Is there room for another social network? A new startup, Pheed, certainly hopes so.
Pheed is trying to court users of
Twitter,
Facebook,
Instagram,
Pinterest.
And it’s got some powerful friends. Celebrities like Miley Cyrus, Paris
Hilton and David Guetta have already signed up for Pheed. Since
soft-launching last week, more than a million users have signed up for
the new service.
Pheed is the
ultimate “mashup” of other sites, says Pheed cofounder and CEO O.D.
Kobo. Kobo and his team “cherry-picked” what they liked best of their
social media predecessors, and left out what bothered them, creating in
Kobo’s opinion something both significant and simple.
The site features a Facebook-inspired “timeline,” trending topics ala
Twitter, and the ability to easily incorporate photos, videos, audio
and even live broadcasts into posts. Pheed allows users to “rate their
channel” marking them as PG-13 or R based on the content you plan to
produce. You can even share your “pheeds” back to Facebook, Twitter or
any other blog.
Monetizing Social
More than just social features, Pheed also has a business model by way of an optional paywall.
Pheed’s concept is based on offering premium content. Pheeders have
the ability to apply a month subscription fee ($1.99 to $34.99 per
month) to their streams or users can charge on a pay-per-view basis
($1.99 to $34.99). Pheed takes 50% the content’s revenue and the user
takes the rest.
“The next step up of the [social media] evolution includes monetization to users,” Kobo tells
Mashable. “It’s not fair that just platforms make money for content. The content creators need to have a fair playground.”
Kobo says everyone from celebs to high schoolers have something to
gain from the premium option. A famous singer or a high schooler in a
band, he says, can charge to broadcast a concert from their living room.
Even if the high schooler only makes a few hundred bucks, Kobo says, it
could mean a lot to them.
The premium content is only an suggestion, not a requirement of the
site. It’s something Kobo says he hopes will only take off once Pheed
has gained “critical mass.” He thinks charging for content is a huge
responsibility which he doesn’t want users to exploit until they’ve
really mastered the power Pheed offers.
And when that happens, Kobo hopes that Pheed will be the answer to
the Internet’s white noise. The need for a content filter is what drove
Kobo’s startup, he says, believing that if money becomes a part of the
process, there is a better chance to increase the quality of information
coming through social media streams.
The site has gained about a million users since its soft launch last
week and with the app dropping later this week, it is poised to draw in a
big crowd in the days to come.
Kobo says mobile advertising will also be another focus of attention for revenue.
“Our business model is based on the long tail,” Kobo says. “We don’t
want to be like other platforms that get to 15 million/20 million users
and then go round and round looking for money to raise.”
Will This Work
Although charging for access to a network isn’t unheard of —
App.net
requires users to pay in order to use the service (though non-users can
browse the global content and individual user feeds for free). Vimeo is
preparing to launch features that will allow its
Vimeo Pro creators to charge for access to video content.
Still, paying to watch a video is very different from paying to read a
status update or to see an Instagram photo. Will users be willing to
pay to access basic social feeds?
Though Kobo believes premium content means elevated content, he
forgets that lots of free content is already above par. Payment may
simply decrease, instead of increase, access to what’s already high
quality. Pheed’s premium channels could backfire, expanding the reach of
the lower quality, free pheeds and create a class war of social media.
“Elite” pheeds versus the visions of Facebook and Twitter — making
people and information more open and connected and less controlled.
Moreover, the service lacks originality and innovation on many
fronts. By compiling the services of other social media companies, Pheed
offers very little new and creative and could hinder the chances of
users splurging on premiums.
So you tell us, are you excited about Pheed and the concept of monetized social media? Answer in the comments below.