Where is the new medium?

Not saying anything new here; just putting my thoughts down on a screen. But mass media is dead.

TV is getting fractured into hundreds of individual channels, TiVo (DVRs) and even Internet delivery of content - making each individual into their own General Manager. The ad market has been falsely buoyed this year due to the elections, but the bottom is bound to fall out of the market come February 2005, just after the Superbowl.

Newspapers and magazines are losing market to free online content. Things are so bad that they've turned to their own blogs to staunch the flow. Again, the online reader becomes his own editor creating his own daily digest (you can read the Angry Chicken Daily by reading my links on the right hand side).

Billboards have proliferated on every available surface; cheapening each ad's value.

A couple of examples of new content using the Internet as the medium:

-Kinja has an interesting strategy of aggregating blogs and (eventually) putting advertising into each person's own personal digest. They have the customer define their interests, and then package those interests with contextual ads.

Friendster is in the market of using members as content; so their question becomes: is self-identifying data that is shown publically sufficient to market to? I would posit that the self description one posts on Friendster is less honest than what their true interests are; making targeted advertising less effective.

Again, the question is: Where is there new content? How do you get your customers to create content that you can repackage with contextual marketing that the customer wants? Where is that line? Where is that opportunity?

If you tell me the answer, I'll give you a 10% cut off the profits.