Creative Destruction and Constructive Innovation
Creative destruction. Business disruption. Call it what you will. There can be no doubting that the meteoric rise of social sharing and participation is changing the way we connect and do business; from publishing, to music, to travel and even funding.
While creating a series for TVO, we chatted with number of entrepreneurs who are using technology to collaborate with established industries and enterprises. Call it constructive innovation. Here’s a look at where PULL is going:
Enabling Spectators to be Part of the Creative Process
No industry has been more disrupted by social media than the music industry, starting with Napster. Which makes 45Sound a bit of an anomaly. They’re helping record labels take advantage of fan generated content to market their artists. The brainchild of Cathal Furey, at 45Sound a fan-shot video of concerts and performances are uploaded to their proprietary technology that seamlessly replaces the fan’s low-quality audio with the band’s live high-quality audio and voila!—a fan generated multi-camera music video.
A Digital Tap on the Shoulder
Where 45Sound brings together fans and bands to create new value, Mark Philip wants to bring new value to sports fans and broadcasters. He wants to make sure you’ll never miss that winning goal, that big comeback, or the final lap of your favourite race ever again. “Are you Watching This?” is an algorithm that can identify when a sports event is about to get exciting and then let you know that you should turn on your TV- now! Instead of developing a stand-alone app, Mark is taking a constructive innovation approach by partnering with some of the biggest sports broadcasters in the industry.
Currently, The Sporting News and Sports Stream are licensing his technology and creating value for their audience and new revenue streams for everyone.
These are business models that disrupt but they also combine the power of the many with collaborative approaches so that traditional businesses and consumers win. Creative destruction and constructive innovation. Two more ways that social media and social technologies are pulling people together to create new business ventures and new business models.
