"Media Empires" | The Business of Newsletters, Podcasts, Creators, and Data Acquisition
The Democratization of Audio | Michael Mignano, Lightspeed
Sep 27, 2023
Michael Mignano, co-founder of Anchor and venture capitalist at Lightspeed, discusses the democratization of audio, Anchor's success, the demand for personalized audio content, analytic limitations, creator funding models, the rise of TikTok, AI in consumer social, making NPCs, the future of media businesses, mid-sized social networks, and the potential for a new audio-only social network.
54:47
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Quick takeaways
- Creating a unique format is valuable, but podcast players struggle to differentiate themselves.
- TikTok's success lies in its optimization of an ads-based social media model.
Deep dives
The value of a niche social media platform
Creating a format that doesn't easily travel to other platforms is valuable. However, most podcast players struggle to differentiate themselves and cannot be significantly better than the competition. TikTok's success lies in its optimization of an ads-based social media model that maximizes engagement through algorithm-driven content discovery. There is a need for a new consumer social model where AI works for the consumer. This could involve funding AI personalization tools or creating proprietary formats.
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