The Evolution of Content Platforms

In 1996, Bill Gates wrote an essay titled, “Content is King” where he made some eerily accurate predictions about the future of internet content. There are two, in particular, I want to review.

“Content is where I expect much of the real money will be made on the Internet, just as it was in broadcasting.” - Bill Gates

Gates nailed this prediction, like, absolutely crushed it. Content is where the money was made in the Web2 era. Blogs, videos, streaming, social media posts created by users are the key assets of the most powerful networks in the world. Content is also king in non-user-dominate networks like Netflix and Barstool Sports.

Gates’ second prediction was also accurate, but arguably still reigns true today.

“For the Internet to thrive, content providers must be paid for their work. The long-term prospects are good, but I expect a lot of disappointment in the short-term as content companies struggle to make money through advertising or subscriptions. It isn’t working yet, and it may not for some time.” - Bill Gates

Remember, Youtube wasn’t founded until nearly a decade after this essay was penned. Early content creators were mostly bloggers writing for the sake of writing. These creators didn’t have the same access to video, streaming, social media, or common content mediums that exist today. Ultimately, content companies found their stride, but often building platforms on the backs of users who created the content. In exchange, users received compensation from advertising or a sliver of revenue from the content platforms.

The Eras of Content