Why Some (Media) Start-ups Fail

I have been meaning to write this for sometime now, but could only do so now for obvious reasons. Leaving my previous start-up had indeed been a breath of fresh air. Although the last one left an absolute sour taste in my mouth, there were of course - memorable and nice ones too, but don't everyone just remember the ones that didn't work out the most?

Since I now hold the personal record of being in 3 media start-up over the last decade that has either failed or failing, perhaps its time I... re-account - the past...

So one of the media start-ups I was previously involved with as a creative hire - was based on the lofty ambition to penetrate the Smart TV market. This was back in 2007/08; and if you're aware of the Smart TV market now - you would have sort of guess that back then - it was a stage earlier than infancy. Biologically speaking - it was almost barren land. Yet one technology existed to serve the needs of would-be viewers and consumers of Smart TVs through --- surprise surprise: Widgets! (Very) almost just like apps - but in its early developments.

Which should be a darn good thing right? Remember how the apps exploded for the iphone? Sure this must be something good too! Right?

Well --- it is... or was --- until we discovered that the supposed founder embezzled the funding and grants given - and flew the coup... Leaving salaries unpaid, legalities in question, partnerships soured, but most importantly - investigations from both the authorities and the Government on-going, with no resolution - yet... I guess he out-smarted us --- and of course --- the TV...

Speaking of TV... There was this one time in the media history of Singapore - where a second free-to-air (FTA) broadcaster license was awarded to another media company (other than the incumbent). If you truly get what I'm saying: for the first time in the media history of Singapore - we have 2 FTA broadcasters! To many of us in the media industry - this news is perhaps more exciting than the political general election that's held every 5 years!

But as history would have it, this second broadcaster did not even last 5 years. This is probably what happens what you try to produce a nightly (repeat - nightly!) studio (repeat - studio!) show, every week (repeat - weekly!), with just writers and producers, and minimal production crew. Oh... And not to mention we were also ran out of stuff to shoot... So after working a full time year of 16 hour days, 7 day-weeks --- I left to find more fulfilling work... (including theatre, teaching, short films and more)... Regrettably, I should have stayed on... Till they fired everyone and compensated them with a healthy severance package...

And as if I hadn't gotten enough of being in media start-ups, I promptly got myself in another --- the most recent that I flew the coup from --- and that is one that simply defies logic. For one - it's not a bootstrapped enterprise; it was one funded by a large company. It also had a lot going of support from our Government and industry practitioners alike - as many welcomed a brand new platform in hope of possible new partnerships and businesses. Thirdly - this start up had great visions of launching in most of the various current platforms now, which is mobile, web, tablets and smart TVs. So it all sounds great right?

Well... Wrong...

First of all - although it's got some budget, it doesn't have a whole lot. So if you chase after acquired content with peanuts - you will end up with monkeys. Which was what we got. B-Grades, C-Grades, D-Grades, plus a whole lot of skin flicks - from NC16 to R21; for which the programming team was so proud of. Can you imagine what kind of branding and start-up identity this affiliation has brought about? Yet internally, they kept wondering why many have disassociated themselves from this brand new OTT service. Local commissionings were ridiculously priced, not properly marketed and not effectively programmed. But worst of all, management... Let's just leave it as that...

So, 3 years on, after about 9 months into a very strange company re-organisation, uninspiring, unmotivated and unfulfilling work - I decided that as valuable as time is - should be better spent elsewhere. Despite earning a very steady income, with lots of company benefits, insurance and perks, I decided to leave my third media start-up - knowing full well it's going nowhere.

So - what's the point of sharing my past (work) experiences here like a journal?

Well... we all need to be reminded of a couple of common sense and sensibilities from time to time. Some of those would be:

1. Don't be too overly ambitious when starting out. As the saying goes - Rome wasn't built in one day. The successes I have seen in most media start-ups (or others) that do make it - are the ones who consistently built it, lovingly, laboriously and painstakingly - from day to day.

2. Evaluate your top management's experience and interest in the start-ups. Unless they are (vested) co-founders, it's really easy for hired management to simply just do the bare minimal for the job required. Worse - find yourself chasing after a con-man who's simply out for your funds, with no intention (at all) for the start-up to succeed.

3. Mass media - truly - has no place in today's context and society; unless you are part of the government with the mandate to provide for the masses with tax-payers' monies. The name of the game - is niche, niche and niche. And within that niche - find your mass. (Spuul.com comes to mind)

4. Don't even bother to launch another media start-up unless you have a really super attractive USP. Not even another video website. (Just Youtube alone will win you hands down)

5. Besides being on all possible platforms - make sure your niche content is on-demand, unique and very exclusive. Why do you think those featured youtube content has attracted over 50k to over 100k and more - views?

If you don't already know - millions of video content are fighting for attention every second, minute and day. From big budget movies, TV shows, to independent works and just baby/cat videos... More so than music - I would think.
So --- before you embark on any media venture, particularly content - think again.
More than often - it's not the passion or the idea that will work; but everything else surrounding it.