Convergence Scrambles the Media Status Quo

As recently as 25 years ago, there were three commercial TV networks, plus PBS. There were a few major publishers of books, magazines, or newspapers. Radio stations essentially played a limited range of music formats based on content from a dozen or so record labels. Today, all of that is changed. Now, nearly anyone can publish nearly anything via any medium — and most of the growth is in media formats that didn’t exist a decade ago. What does this mean for traditional media companies and for the new entrants? We’ll explain.