Social Media 101 And That Facebook Stock Thing Again
June 1, 2012
"If we see light at the end of the tunnel, it's the light of the oncoming train."
-- Robert Lowell
Hopefully, most people who are still fuming because they didn't get rich quick by buying Facebook stock in the first 24 hours, have now seen that "light at the end of the tunnel." And it was not a train run by Pennsylvania, Reading, Short Line, or B&O railroads ... you know, those featured on a Monopoly board. No, this train was the Reality train.
The reality was there was so much hype on the Facebook IPO, that the media fed itself on the frenzy, actually believing lots of people were going to get rich overnight if they got in early. I haven't seen such media hype since Kim Kardashian decided to get married to increase ratings on "Keeping Up With The Kardashians." You know, the "reality" show that's so perfectly scripted.
But, back to Facebook and the whole social media world we've all been living in (and some people must really be living in that world because it seems they are online 24/7).
CNET's Molly Wood's article below asks the question, "Remember when Facebook was the hot new thing on the Web?"
Hey, Molly, remember when MySpace was the hot new thing on the Web? (Molly's article is a must read, though)
Ask Rupert Murdoch how well the whole MySpace thing worked out. He sold MySpace for just $35 million to Justin Timberlake, and that's just 6% of the amount Murdoch's News Corp. paid for the business. That alone should have been a red flag to anybody thinking about diving into Facebook stock with serious cash. Good luck, Justin, maybe you can bring sexy back to MySpace.
The fact is we don't know where Facebook will end up in the future. Ms. Wood believes Facebook might already have peaked and she tells us why in her article.
If Facebook does create real revenue streams with strategic partners that can truly utilize its one billion users for their mutual benefit, perhaps the company will turn it all around and the smart money will come in later. Maybe General Motors will come back to Facebook then.
But there are some very troubling signs for all social media companies hoping to generate real big dollars in the future.
How many users actually click on those online ads? And how many people who do click on those ads, actually BUY something?
It's one thing to have a billion people using your program to talk with friends; it's quite another to get them to take money out of their pockets and spend it while they are telling each other what they had for breakfast, lunch and dinner, where they are going to, what funny videos we should watch, what news stories we should read, what gossip we need to know, where we are shopping, where we are vacationing, and ... well, you get the picture.
After sorting through all that, do you have any desire to click on a distracting online ad? Hell no, the posts from people are distracting on their own. And the truth about 99% of the posts? WE DON'T CARE ABOUT THEM. We just put our mouse into fourth gear and fly on down the page.
Facebook is online diversion. It's fun at times, and at other times, a complete bore.
And, while we are on the subject of social media, can any of you please tell me if you or anyone you know has ever gotten a job because they are on LinkedIn? It's a great place to keep all your contacts online, but has anybody actually gotten that job they were looking for because they were on LinkedIn?
Dennis Miller said this about bad TV, "As with any other recreational drug, when used judiciously, it can be a pleasant experience."
Ditto Facebook. Ditto Twitter. Ditto FourSquare. Ditto Pinterest. Ditto Friendster. Etc.
THE 'A-SIDE' - TRACK 2
FACEBOOK MIGHT DIE ... AND HERE'S WHY
Remember when Facebook was the hot new thing on the Web?
Now it's king of a dying medium, and CNET's Molly Wood doubts it has the mobile chops to survive the disruption that's shaking the entire Internet.
Read the rest here: http://tinyurl.com/bsqnkgq
THE 'A-SIDE' - TRACK 3
HOW LADY GAGA & HER MANAGER UTILIZED SOCIAL MEDIA
From Wired, read how Lady Gaga's manager reinvented the celebrity game with social media.
Read the article here: http://tinyurl.com/7la8w62
THE 'A-SIDE' - TRACK 4
OUR POLITICIANS GET THIS ONE RIGHT, THE U.N. SHOULD NOT REGULATE THE INTERNET
Forget the Federal Communications Commission; lawmakers now are concerned that the United Nations might make a grab for some regulation over the Internet.
House Republicans and Democrats alike on Thursday blasted several proposals circling around the U.N. that could dramatically change the regulatory approach to the Internet, including net neutrality. China and Russia and other countries have proposed that the U.N. mandate international norms governing information and cyberspace, and China also is seeking to register Internet users by their IP numbers.
Bad idea, right? You bet.
Read the rest here on The Wrap: http://tinyurl.com/847cfrd
THE 'A-SIDE' - TRACK 5
MAKING A HIT TODAY: AN INTERVIEW WITH 'FUTUREHIT.DNA' AUTHOR, AND DIGSIN FOUNDER, JAY FRANK
You can listen to a great 28-minute interview with Jay Frank, which he did when his best-seller 'Futurehit.dna' was released.
Future Hit.DNA provides a road map to the digital landscape, outlining 15 points that must change in a song if the artists, songwriters and producers of tomorrow want a chart-topping hit. In the interview, he is asked about some of the main highlights and points of Futurehit.dna and also how they can apply to the artists.
Listen here: http://tinyurl.com/73bel4q
THE 'A-SIDE' - TRACK 6
While Amazon and Apple have huge leads, Facebook has enough users, personalization, technology, and convenience to gain a foothold selling movies, music, and other digital goods.
Can such a possibility mean more to Facebook's stock price and future revenues?
Read the rest here on CNET: http://tinyurl.com/7tmstap
THE 'A-SIDE' - TRACK 7
IF YOU HAVE A BLACKBERRY, YOU MIGHT WANT TO READ THIS
Research in Motion (Blackberry's maker) took another step Tuesday toward radically reshaping or selling off the company. The BlackBerry maker hired JPMorgan (JPM, Fortune 500) and RBC Capital to "review" its strategic options.
That's generally corporate jargon for putting a company on the block. RIM's new CEO Thorsten Heins said in late March that he was exploring all options for the company, including a sale.
Read the rest here on CNN Money: http://tinyurl.com/6un3ruv
THE 'A-SIDE' - TRACK 8
FOLLOW-UP ON MY 'AMERICAN IDOL' COMMENTARY LAST WEEK
Thanks to all of you who sent me e-mails and agreed with my comments about "American Idol" seeing its best days.
As a follow-up, I thought you might like to read these two articles.
The first article came out last Friday after I sent the newsletter out, about how "Idol" has lowered payments to the runner-up.
From the article, "Wednesday night's runner-up, 16-year-old Jessica Sanchez, doesn't have a definite shot at producing an album and could be paid as little as $30,000 in advances for recording singles, according to the "Idol" contract she and other Season 11 contestants signed earlier this year."
Read the rest here: http://tinyurl.com/76ao5x2
And, in light of the fact the show experienced a 30% ratings decline in its 11th season this year, changes are coming.
Read about that on the New York Times here: http://tinyurl.com/6ml89d7
THE 'A-SIDE' - BETWEEN THE GROOVES
AEROSMITH'S STEVEN TYLER IS VISITING US FROM ANOTHER PLANET
Aerosmith frontman and 'American Idol' judge Steven Tyler obviously lives in another world.
He just took delivery of the world's fastest convertible, the Hennessey Venom GT Spyder, which will accelerate to 200mph in 15.9 seconds, eight seconds faster than a Bugatti Veyron. Only five Venom GTs will be built this year and Tyler's remains the only convertible. The cost was $1.1 million for the 7.0-liter, twin-turbo V8. But, what the hell, when you got it, flaunt it, right?
Tyler also said the following in Rolling Stone regarding the upcoming Aerosmith album: "Your album is like a wave, and you ride that album all the way and see what you got. Hopefully we have three or four deep, which means radio play ... Jack Douglass and I and Joe ... we worked this thing for the last year, and we're so happy about it."
Yes, Steven lives on another planet, and he surely hasn't been listening to radio here in the U.S.A. for a few decades. Maybe he can't pick it up on the planet he lives on.
"Radio play?" Where, Steven? Is Aerosmith somehow going to get the airplay that Bruce Springsteen, Elton John, Paul McCartney, Van Halen, and all other heritage acts don't?
Take the millions from "Idol," the millions that will come from the upcoming Aerosmith tour, get in your Venom GT Spyder, and zoom back to the world you live in.
THE 'A-SIDE' - BONUS TRACKS
* 101 Arena is a revolutionary model that fairly divides site advertising revenues between each artist based on 'listens' and was created by 101 Distribution, the nation's only full-service, independently owned music and film distributor. Arena is an indie-focused store that already has more than 270,000 albums and 3.2 million songs. The Lowdown on Streaming Music & Digital Payouts: http://tinyurl.com/7k5vd82
* Triqtraq, a Fun iPhone Jam Sequencer ... And Yes, You Can Use Your Own Samples: http://tinyurl.com/75l3kbj
* Listen to Joe Walsh's new album, 'Analog Man' and hear the Eagles and James Gang guitarist's first solo record in 20 years: http://tinyurl.com/837huqr
* The contract free iPhone is coming to Cricket. Read about it here: http://tinyurl.com/79k4y94
* If you're a musician, read Jay Frank's '5 E-mail Mistakes Of Most Musicians' here: http://tinyurl.com/73bel4q
Short News Items ...
Elvis Presley's original crypt will be up for auction in June, the New York Times reports. The crypt is part of a two-day "Music Icons" sale of memorabilia to be held by Julien's Auctions on June 23rd and 24th. Elvis now lies buried at Graceland, but he was initially interred in this private crypt in the mausoleum of Forest Hill Cemetery in Memphis while his father sought permission from the State of Tennessee to bury him on the singer's estate.
CHARITY BEGINS AT HOME, BUT WHERE DID THE MONEY GO?
From the New York Post, "Mary J. Blige, the New York music star's charity, the Foundation for the Advancement of Women Now, known as FFAWN is supposed to empower women but instead has no office, no phone number, and hundreds of thousands of dollars in missing donations." ( http://tinyurl.com/c6wxlye )
The series premiere of the singing talent competition "Duets" with Kelly Clarkson, John Legend, Robin Thicke and Jennifer Nettles, only earned a 1.7 adults in the 18-49 demos. Less than seven million people watched the show's debut.
Mumford & Sons confirmed that their second album will released on September 24th.
JUST WHAT WE DON'T NEED:
Another reality singing competition, "Opening Act," will debut on E! in July.
AND ONE GOES, ANOTHER ONE COMES:
NBC has cancelled 'The Sing Off' after three seasons and replaced it with a new singing competition called "The Winner Is," Entertainment Weekly reports. The new show will pit singers from all walks of life against each other in one-on-one duels.
DYLAN AND OTHERS HONORED.
Bob Dylan received the Presidential Medal of Freedom, the country's highest civilian honor, at a ceremony at the White House this past week. Others also receiving the medal were former Secretary of State Madeleine Albright, former Supreme Court Justice John Paul Stevens, Israeli President Shimon Peres, author Toni Morrison, civil rights campaigner and National Farm Workers Association co-founder Dolores Huerta and astronaut John Glenn.
ELTON GETTING BETTER:
Elton John is on the mend at home after a serious respiratory infection sidelined him and sent him to a Los Angeles hospital last week, his civil partner David Furnish said Tuesday.
MAYER SCORES THIRD#1 ALBUM:
John Mayer's "Born and Raised" album debuts at #1 on the Billboard 200 chart with 219,000 copies sold in its first week, according to Nielsen SoundScan.
Beyonce, Pitbull and Steven Tyler have all been cast in "Epic," a new animated film being produced by 20th Century Fox.
STAPLE THE GRAMMY:
The 55th Annual Grammy Awards will once again take place at Staples Center, NARAS confirmed. The date is Sunday, Feb. 10th, 2013,
ADELE TUBE SPECIAL:
NBC will air an hour-long special with British singer Adele and Matt Lauer on June 5th. Titled Adele Live in London with Matt Lauer, the special will contain an exclusive interview and live cuts from the singer's Adele Live at the Royal Albert Hall.
SO, BASICALLY IT'S AN OLDIES SHOW THEN?
A stage adaptation of "Backbeat," the 1994 film about the early days of the Beatles, will open in Los Angeles before hitting Broadway, Billboard reports. The musical will launch at the Ahmanson Theater in Los Angeles on January 16th and officially open on January 23rd. The show contains no original Beatles' music but songs they covered in their early years like "Long Tall Sally," "Please Mr. Postman" and "Twist and Shout."
HERE COMES SPACE TRAVEL:
Virgin Galactic says it expects to make rocket-powered test flights of its passenger spaceship later this year.
After the new iPad unit went on sale in March, the amount of video watched on tablets jumped 26%. Now iPads account for 95% of tablet video viewing. ( http://tinyurl.com/cpegll9 )
Pioneering folk guitarist and singer Doc Watson, 89, died at Baptist Medical Center in Winston-Salem after falling at his home in Deep Gap, North Carolina.
Howie Richmond, 94, legendary music publisher, at his home in Rancho Mirage, CA, on May 20th. His TKO company, one of the most successful music publishers for more than 60 years, controlled a catalog of songs by Woody Guthrie, Pete Seeger, Lead Belly, Lionel Bart, Pete Townshend, David Bowie, and others.
The Music Industry Past, Present & Future, And The Internet I answer questions on EconTalk
I did an interview about the industry and the Internet at EconTalk with host Russ Roberts. Russ is also a professor of economics at George Mason University, blogs at Cafe Hayek, and has written three novels that teach economics. He's also the co-creator of the Keynes-Hayek rap video. (And if your understanding of the economic meltdown that occurred needs to be enlightened, this video will do it)
In the interview we talk about the evolution of the music industry, the impact of the digital revolution, and I give my reasons for believing in the virtues and potential of the Internet in enhancing the music industry. I point out, as I have many times here in the newsletter, that the internet allows numerous artists to make money from their music and it can enhance revenues from live performances by expanding an artist's base. We also discuss the challenges facing record companies and I suggest that the full potential of the Internet as a distribution channel has yet to be fully exploited. There's a lot of ground covered, but based on the comments already posted of those who have tuned in, they've enjoyed it.
Read more about it by clicking here.
Quotes of the week
"They asked me to come to their opening and sing 'Ruby Tuesday' for $1,000 and a lifetime supply of jalapeño poppers. I passed, and not a day goes by that I don't regret that."
-- Mick Jagger, in his opening monologue on SNL, joking about an offer from the restaurant chain
"There is a whole new technology, but there is also a whole new world that's virtual and that doesn't really exist. We all spend more and more time in there and we get lost. Meanwhile, our bodies sit in chairs and wait for our minds to come back. I don't know if it's working for us, or if we're working for it. I know that it ate the record business, and I know it ate radio and it ate intellectual property. I hope it doesn't eat me."
-- Joe Walsh, in Rolling Stone
"I had to lose 60 pounds. They had me running on that treadmill."
-- Beyoncé, at her sold-out concert on Saturday night (May 26), the second of four shows at Revel's Ovation Hall in Atlantic City. Stop complaining Ms. Jay-Z. A treadmill? Try working in the real world, not one of privilege.
The B-Side - 'Blips'
THE ONION (www.theonion.com) STORY OF THE WEEK:
Shadows Meet The Clouds, Gray On Gray, Like Dusty Charcoal On An Ashen Brow, Nation's Poets Report
NEW YORK-According to a growing consensus of U.S. poets, shadows -- inky sharp as a raven's beak -- meet the sullen bloat of clouds, their hues a pallid loam, each a dancer, each alone, like dusty charcoal on an ashen brow.
Citing both the ageless gloom of morning and a weary sun, its astral luminescence wrapped in arid gauze, the nation's poets told reporters this week that doubt lingers in the frail minutes of a young dawn, adding that said doubt was a heathen doubt - a father's doubt - untouched by faith.
Multiple verse-writing sources also confirmed vapors, milky white vapors of shallow breath from a child's lips.
Read the rest here and laugh: Click Here.
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