I found this post over on SAI really insightful. The basic premise is that the professional/semi-pro world of New Media is behaving a whole lot like good ol’ fashioned Hollywood. For example, they point out:
“This industry features vast numbers of candidate projects, produced at a grass-roots level and almost always initially financed by the creators themselves. Are we talking about indie films shot on video — or the latest Facebook App?”
Looking ahead, SAI sees a number of outcomes of we can predict and are already witnessing. I especially like this point:
“Newcomers will arrive in droves — and will have high motivation to make heavy sacrifices. Actors wait tables. Musicians barely eat. Writers flat-out starve. Granted, these people usually desire fame, and web entrepreneurs a successful exit. But both groups share a common goal to motivate them through hard times: they all want to follow their own creative vision, a rewarding job benefit in itself.”
Last night at the Film in the City event where I spoke, I was chatting with an associate who was an early entrant into the world of web video. He saw a huge market opening up and dove in, eager to reap the rewards of the first on the scene. A couple of years later and instead of having a big piece of the pie to himself he is watching most of the work go to those just arriving at the game and happy to undercut him if it gets them on the field.