If the media industry were an economy — which it is — the distribution of wealth and attention in this economy suggests a circumstance far more derelict than that of the worst national economies on the planet. A small few collect a great proportion of the wealth in this attention nation, and contrary to the hopes and dreams of tech utopians, this concentrated distribution may not be changing.
A significant measure of the vitality of an economy is being ignored by most discussions in the media industries these days. That measure of vitality is simply the relative distribution of stuff throughout the system. For the music industry, that “stuff” might be track/album sales, or online video streams, or music service streams.
We could call this measure “G,” a shortened form of Gini, a coefficient widely employed to characterize the distribution of things throughout a society. We could calculate the G-index for a wide range of media venues — radio, television, webcasters, storefronts — as well as media models and interfaces — subscriptions, free, machine recommendations, curators.
For example, my estimate of G for one online music video destination that shall go unnamed is 99.27, if all available videos on the service were considered to be “in the economy.” Were only those videos that were in fact streamed during a week considered to be “in the economy,” the G falls to 83.08. In either case, this venue for attention has a greater concentration of wealth than any national economy on the planet, by a landslide.
To read on, head to Rockonomic.com …