This article was originally published on paidcontent.org.
Flipboard’s recent update lets users create custom “magazines” and share them. For a large swath of the publishing industry, this provides a glimpse of what (for them) could be a grim future.
When Flipboard recently announced it was opening up its platform to enable users to create their own magazines, I was surprised by the low-key reaction by the publishing industry. It wasn’t a particularly busy news day but still there was a fairly neutral vibe throughout the coverage – as if it was of no particular consequence. Yet after I plowed through what little there was, visions of icebergs began forming in my brain. The publishing industry should have no doubts that big trouble is lurking directly in its path.
In case you missed it, here’s Flipboard’s explanation and demonstration of its new capabilities:
It’s not if, but when
Now don’t get me wrong, Flipboard is no Facebook. Its 50 million-ish user base isn’t particularly active (though I estimate only around 4 million are active, based on ratios from previous public statements). Not yet, anyway. And thank god, or the media/publishing industry would likely have a significant crisis on its hands, as opposed to one that’s somewhat in the distance still.
The reality the publishing needs to understand, though, is that Flipboard has (smartly) maneuvered itself into a powerful position. With the flick of a switch, it could deal a serious blow not only to the traditional old media but also to a variety of digital platforms – Tumblr, Flickr, WordPress, among others – as it pivots from purely curation-based interaction to one that offers users full-blown creation abilities. Indeed, this is likely its only future, since without the agreement of the major content creators, Flipboard would be little more than a collection of Tweets and blog posts.
It’s about money
Currently the ad model Flipboard is using is fine, but it’s fair to say it’s not setting anyone’s world on fire. That could change in a heartbeat, though, if the magazines Regular Joes create take off and real readerships are built. Could the next powerhouse of media come from a bedroom in Delaware?
It’s safe to assume then that the company is actively exploring revenue paths behind closed doors right now: micropayments, revenue-share or even subscriptions. Imagine consumers subscribing to read other consumer-curated magazines, or locking down content only to be opened like mag apps are now, or as in-app purchases per gaming, or even geo-location apps (Grindr). At the end of the day, though, it’s crucial to note that Flipboard has what no other publisher does: love from Apple, and quite possibly the credit card numbers that go with that love.
It’s about attention
Article written by Paul Armstrong
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