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Complete with a South Park clip skewering the "virtual millions" of dollars content creators receive from YouTube, Thomas Rubin (pictured), Microsoft Corp.'s [MSFT] chief counsel for intellectual property strategy, opened up Argyle Executive Forum's Leadership in Media event in New York today by highlighting the impact of the Web on the media industry.

"The birth of the multimedia Internet, unlike previous technological changes, has been more like a giant comet strike upon the media ecosystem," he said, adding that a key question is whether the Internet will prove to be an "extinction event" for some traditional media companies.
 
"The flowering of new content has for the first time enabled grassroots creators to bypass traditional distribution channels and attract broad audiences for their work.... This signals the emergence of online consumers not just as purchasers of content, but as powerful forces in creating, shaping and marketing it, as well," he continued.

Rubin doesn't favor the flowering of unlimited free digital content, mind you, which he suggests is incompatible with the goal of forming a sustainable new media environment. That will require "stewardship" he said, "acting for the best interests of the ecosystem as a whole rather than just our own narrow businesses."
 
"Stewardship requires embracing the fact that, like it or not, technology is forcing change upon us and everyone must adapt," Rubin said. "History shows the progress of technology and society offer no safe haven or Incumbent Protection Act, and those who can't adjust their thinking and business models to new conditions will inevitably fall behind. Fortunately, incumbent firms are getting somewhat better at turning technology to their advantage." - George White

See Thomas Rubin's blog through the Stanford University Law School
See other posts from the 2008 Leadership in Media Forum from Dealscape

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