Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Media Gurus Take Stock of New Website

MediaPredict.com brings a market mentality to picking the next hit

By J. Kelman,  Newser User

Posted May 31, 2007 4:56 PM CDT

(Newser) – An enterprising start-up thinks it knows how to pick the next Da Vinci Code or "Friends," the Economist reports: virtual stockmarkets. MediaPredict.com lets volunteers use play money to bet on the success of a book manuscript, TV pilot, or opening-day take, and hopes the wisdom of crowds will predict the hits.

Other prediction markets, like those for elections, have proven surprisingly good at forecasting winners. The company is banking that they'll do just as well for media—and that execs, long reliant on erratic intuition or expert advice, will pay up for a service that raises their chances for a hit. “This year was kind of a bloodbath for new television programmes,” says the company's founder, “so we know that their systems need improving.”

Da Vinci Code Stars Name Eurostar Train
Da Vinci Code Stars Name Eurostar Train   (Getty Images)
Cast of Friends on the Tonight Show with Jay Leno
Cast of "Friends" on the "Tonight Show with Jay Leno"   (Getty Images)
« Prev« Prev | Next »Next » Slideshow
What is Media Predict?   (mediapredict (YouTube))

« Prev« Prev | Next »Next »
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

More Newser Stories

How 50 Cent Made $9M From One Weekend of Tweeting

Some UK Tabloid Stories Are Fake: Documentary

Surprise! Fox News Is Liberal: Stewart

Who We Trust Post-Cronkite

Jackson Death Boosts New Media, Troubles Old


NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne