Larry Kramer on the changing face of media

Author of C-Scape, and founder of MarketWatch, says every company is in the media business

Larry Kramer is one of the Internet pioneers of digital media. He founded MarketWatch, took it public in 1999, and sold it Dow Jones in 2005 for $500 million. Larry is also my former boss and mentor who hired me in 1999 to become Internet editor. Since selling his media company, Larry has been teaching at the Newhouse School at Syracuse University, consulting, advising, and spending some time studying how technology has disrupted the media industry.  The result of that research is in his book, "C-Scape: Conquer the Forces Changing Business Today."

Unless you've been hiding under a rock, you'll know that the media industry has been turned on its head. But the ramifications of what's happened to the communications and media industry are far and wide. "What I discovered is that ultimately, every company has to behave like a media company," said Larry, in our interview.

He also talks about the potential problems businesses will have and what they need to do to adapt. He talks about the media meltdown, and the new rising stars. What does the new online media company consist of? Original reporting, plus curation and community, he said. All these three, plus killer content is included in the recipe for media success. It's not like the old days where oligopolies controled the airwaves and a rotten show could simply knock NBC or a cable company at just fourth position. Today, if the content isn't good, your rating takes a big hit.

Larry also gives his vision of the future of the media. I'm sure you're wondering what does "C-Scape" mean? You'll have to watch the show. And, I encourage you to buy his book here.