The Chief Innovation Officer: Federated Media Edition
Federated Media is the web’s first niche advertising agency. It’s not a blog network folks. Everyone who thinks they are a blog network is foolish. FM is truly the web’s first powerhouse advertising agency who’s sole focus is social media. It’s owned by John Battele,Omidyar Network,The New York Times Company,Mitchell Kapor, Andrew Anker, Mike Homer, and Tim O’Reilly.
The Hot Sheet on Federated Media
Network Name: Federated Media Publishing
CEO: John Battelle
What’s Right- Big Names, Big Franchises. I see FM aggregating a lot of the most popular sites on the internet.
What’s Wrong- What the hell are they doing with all that cash? Their seems to be a lot of “filler sites”. Sites with low traffic and sub par content if they want to remain in the elitist mentality that they seem to portray themselves. Self-Service Advertising is great if you are going to let the other boys come and play. But since its elitist, we all get the good bye see ya later mentality. I’ve tried contacting FMPub on a few occassions in the last few months and my emails were not replied. In my opinion stay far away. If you can’t reply to a simple email. You shouldn’t be in this business.
Innovate Now or Die: I’m sure you will be brashly offended by my last paragraph. Oh well. But here’s the innovation. FMPub isn’t going to innovate the sites as they don’t own them. However they could innovate the way we think about advertising, and the way its mashed up between the web and real life. Instead of trying to sell advertising space. John Battelle & Co. should get into a spicy product that fits its demographics. Which is largely tech savy males. Open up a New York based Tech Showroom. Think real life Digg for products. Provide Invites to bloggers via FMPub’s inventory. Instead of direct advertising on the sites the companies provide FMPub with access to the products in advance and the opportunity to display them in the “Weekend of Tech” FMPub makes money on both ends. By promoting products for gadget companies, cell phone manufacturers, and computer companies. And by charging bloggers, consumers, etc a 10$ dollar cover to try out new products. Secondarily it will promote the bloggers via in-show promotionals and recommendations. Thus creating a whole new blogger celebrity base. You can keep rent low by making it an “underground event” and partnering with existing stores in New York City,Los Angeles,etc and having them clear a corner of the store for this weekend project. They get foot traffic. So they’re happy. Startup is zero dollars. So overhead is low. It’s all about partnerships,exposure, and being able to mashup the real world and the online buzzards of digg and reddit into a real life event. Companies love it for multiple reasons. It attracts bloggers to the events who in turn blog about their products. Simply put if FMPub isn’t smart enough to grab this idea, steal it, and develop it then they are the dumbest blokes around.
Competition for Innovation Concept: Nobody
Innovation Richter: 9 out of 10
From what I have seen of them they really don’t do anything to differentiate themselves from anyone else as far as the stories they provide. There is really no draw.
Dennis Bullock said this on April 27, 2006 7:05 am
I think that bridging the gap between the web and the pavement is precisely what will separate the good from the great in the advertising game.
People in cities like New York and LA love “events” of any kind, and promoting via the web is a great way to reach a huge audience. Wanna talk about party promotions? The next Studio 54 starts right here.
Chris P. said this on April 27, 2006 7:34 am
Again its the willingness of ordinary people to do smart things. Let’s see if we can get anyone from FedMe Publishing to drink some of my koolaid.
Seriously though. It’s Web 3.0 bridging the gap.
David said this on April 27, 2006 7:51 am
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