SURVEYING THE MIRROR: Many industries, including Media, have been doing some introspective soul searching since last week’s Prez election shocker. Beyond the question of what could Trump’s policies mean for specific industries, business leaders are wondering how so many polls could have been so wrong, and are now concerned that other big data applications they’re using may not be accurate either. The NY Times article below hypothesizes why this happened. One theory is that pollsters and data analysts live in a socioeconomic bubble which is far different from middle of the road America. So when they design questionnaires, survey respondents, and interpret data they bring a host of preexisting biases which are generally younger, better educated, more urban, have a higher income level, and are more logical and less emotional than John Q. Public. This creates poll results which are skewed more closely to those studying the data in the first place – sort of like the echo chamber effect. If this theory is accurate (and I think it is), researchers will need to get a heck of a lot more honest about the biases they’re unintentionally bringing to their work before survey accuracy can improve. (link)
SNAPPY IPO?: Well, that didn’t take long. Just as Snapchat officially became the darling of the moment in digital media, its parent company Snap, Inc. has started the process of going public. The timing seems right, as Snapchat still has tons of momentum in both user growth and ad monetization. But as hot publishers of yesteryear (aka Twitter) can tell you, the good times won’t necessarily last forever. And the ability to cash out at just the right moment is as important as the product you built in the first place. (link)
PRINCE V. TIDAL: Finally today, it looks like Tidal and the estate of Prince are getting into a legal scrape over streaming royalty payments. In an ironic twist Tidal, who prides itself on being of the artists for the artists, is being accused of short-paying Prince’s estate during a contract renewal in August. It feels like a difference of interpretation which could easily get worked out ahead of any court proceedings, but the PR doesn’t look great. Prince was one of those artists who really limited the platforms his music was distributed on. So it seemed like a feather in Tidal’s cap to have the deal. But now that partnership seems a little diminished. (link)
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