Social Media to Users: Thanks for the Free Content
January 26, 2008
By Scott Kiekbusch
Without their contributors, the social media platforms are empty shells.
Are user generated content websites like Facebook and MySpace taking advantage of their users? The aforementioned websites are valued at billions of dollars (estimates range from $15 to $65 billion for MySpace alone), but without the users who create all of the content on the sites, aren’t the businesses effectively worthless?
A couple nights ago I attended an event in Boston titled, Social Media: the Opportunities and Implications for Marketers. Panelists included representatives from the Facebook, MySpace and Eons social networking platforms. While the event offered a great deal of insight into the world of marketing within social media, one question and answer volley really stuck with me.
After the panel had reinforced the importance of social media to any marketer’s plan to reach their audience, a man stepped up to the microphone and asked a simple question: Do you think that user generated content websites will begin to pay the users who contribute?
I thought this was a reasonable question, after all, YouTube shares ad revenue with the creators of their highest performing video content. Panel members visibly bristled and rebuked the questioner.
Tom Arrix (VP of Sales, East) of Facebook, Suzanne Skop (Director of Sales, Eastern Region) of MySpace and Jeff Taylor (CEO and Founder) of Eons all agreed that the idea of paying their contributors was preposterous—even going as far as saying that their users did not want to be paid. They agreed that the notoriety of appearing on a social media website was payment enough.
Clearly the panelists have a business agenda, but to state that the users would not want to be paid for their contributions is nonsense and a flat out lie. I hypothesize that the vast majority of the prime contributors to social media websites contribute because they want to make money or get laid. Contributors want to be noticed by Hollywood studios to land screenwriting deals; they want to sell albums and tickets to concerts; to sell their artwork; they want to get high paying jobs and speaking engagements because they’re experts in their field.
How long will the primary social media contributors agree to participate without compensation? Ultimately, without their contributors, social media platforms are empty shells. Sharing a small percentage of what these platforms charge advertisers seems only reasonable.
