Category: Innovation

The entertainment and media industry is not known for its innovation. Left to its own devices we would all be consuming news from broadsheets and a town crier, and digesting shows at the theater. Not too long ago the industry, led by Hollywood heavyweights, was doing its utmost to kill emerging forms of media consumption, such as the video tape cassette and the VCR. Following numerous regulatory, legal and political skirmishes innovation finally triumphed over entrenched interests, allowing VHS tape, followed by the DVD, to flourish, albeit for a while. This of course paved the way for new forms of distribution — the rise of Blockbuster and a myriad of neighborhood video rental stores. In a great ironic twist, the likes of Blockbuster failed to recognize signals from the market…