Nick Bilton’s I Live In the Future & Here’s How It Work was released yesterday. In the book, Bilton discusses the media from multiple vantage points ranging from why surgeons should play video games to why the porn industry is a model for what media companies need to do in the future.
He also discusses what the four factors he thinks people consider when purchasing digital content: price, quality, timelessness, and experience. Bilton combines those factor like this:
- People will pay for some experiences around the content. But people will pay.
- They will pay for quality, whether it’s high-level graphics, a beautiful design, or graceful language.
- They will pay for timeliness if the experience of having something first or before it perishes is worth paying for–if they can purchase it immediately.
- They will pay if the price matches the experience. Just as with porn subscriptions, in which the sales drop off once the price hits a certain point, there will be a limit to what people pay for content. The amount may be below the seller’s hopes–but there is a price people will pay.
(Source: Page 176)