The Steem value model vs. traditional and new media value model

in steem •  2 years ago

Hi all,
I am just learning about Steem and trying to understand it better. Can you let me know if my understanding is correct? Any more comments?

To me, the traditional media value chain model is: content creator <--> publisher <--> ad agents <--> ad buyers <--> content consumers. In other words, content consumers is the one eventually pay the content creator by buying the ad buyer's product or idea. All other parties in the chain are middlemen and benefit from the content creator's work.

A new trend is that content consumer directly pay the content creator and the platform. This is popular in platforms such as Wechat and Weibo, who create a 'Reward' button under a post for consumers to reward the content creator if they like what they read. Another similar model is fd.zaih.com, where people can pay someone to answer a question.

The Steem model is that consumers 'pay' creators by upvoting them. Both consumer and creator want to improve the platform and attract more users. The goal is one day there will be enough users that users use Steem coin as their payment methods.

Is my understanding correct? Are there more revenue streams or potential revenue streams?

Thank you!

Please don't be harsh if I am wrong. I am just getting started. Thank you~ :)

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The Steem model is based on seignorage .. which happens at set and specific rate, much like mining rewards in bitcoin. Other content monetization models are based on advertising revenues or tipping. Ad revenues are the predominant model, and there are many side effects of this in modern day media.

In Steem, when participants up-vote someone else, that's the extent of their action, then the blockchain tallies the votes and the posts to decide how to allocate rewards. So less like paying the authors and more like up-voting them which puts them in a pool to receive rewards from the Steem rewards fountain :)