The Guardian reports that Internet ad spend in the UK, at £1.75 B in the first 6 months of the year, overtook TV ad spend for the same time period.  This was aided by the advertising recession.  Internet ad spending now represents a whopping 23.5% of all ad spending in the UK, compared to 21.9% for TV.  Spending on online video, while having grown 300%, still represents just a tiny £12 M sliver.

It's not surprising that the UK is the first major economy where this is the case given that the BBC's distorting impact on the media landscape.  It has a lot of viewership (and listenership and readership) but is of course non-commercial and so there the ad £ will naturally look for other outlets.  It is also a valid point that the internet actually comprises several mediums including search, display, email, online video and other formats, and so comparing 'internet' to TV is not a fair comparison.  Nevertheless, it is a milestone worth noting.

Paul Graham writes another typically coherent piece on post-medium publishing.  His point is that publishers have based their business models on their distribution medium of choice as opposed to explicitly charging for content.  As he writes, "Economically, the print media are in the business of marking up
paper", and goes on to say: "What happens to publishing if you can't sell content? You have two
choices: give it away and make money from it indirectly, or find
ways to embody it in things people will pay for."

He rejects iTunes as an example of people paying for content comparing it to a toll rather than a store.  I'm not sure I agree.  Just because someone pays a small amount of money for content, they're still paying, no?  In the UK, there is a true tax in the form of the TV license that funds the BBC and other broadcasters, but that's still a form of payment – it just feels different to us.  Actually, I think we'll see more of these types of models – say a fee that's bundled into your ISP bill to cover access to content or a service like spotify or hulu.

It's such a time of change and uncertainty for the content industries.  But I'm sure we'll look back upon this period a few decades hence and shake our heads about all the hand-wringing and find it hard to believe that we had such a hard time figuring out the model. 

Btw I found Paul's definition of content to be the most succinct I've seen thus far:  Content is information you don't need."" 

Tomorrow marks my 2-year anniversary of having moved to London.  It has been a wonderful blur: making new friends, seeing new places and getting used to the life here.  Don't get me wrong, living in London has its downsides:

• London is the most cosmopolitan place I've ever been.  You meet people from all over.  But it also means that your fellow ex-pat friends may move on before too long.  (On the plus side, it means you have friends in other parts of the world)
• It's hard to be spontaneous.  People book social appointment weeks and even months ahead of time because they travel so much and because London is so spread out that it's harder to get about town to do something spontaneous, unlike a place like Manhattan.
• The weather.  Talking (and complaining) about it really is a favorite parlor game here.  There certainly is a lot to talk about.  The weather really is as terrible as they make it out.  When it's nice, it means people really appreciate it and you basically get inured to the fact that it will be gray, chilly and rainy much of the time.
• It's expensive.  London is on par with New York.  You probably get more flat for your money here but other things are more expensive with the exchange rate.
• Customer service.  The culture of service that we're used to in the States hasn't quite made it here.

On the other hand, it has a lot going for it:

• The cosmopolitan mix of people means you're always meeting people with interesting backgrounds.
• It is easy to travel to some great spots and the culture is very much open to seeing new places.
• The Premier League.
• The social life.  There's always something going on and people up to do stuff, whether it's going to a gig, a show or just hitting the local on a sunday evening.
• The mix of urban and green spaces makes it feel less claustrophobic than Manhattan.
• The work/life balance.

Thanks London, for a good two years.