Profound economic change is percolating beneath the explosion of transforming digital broadband content opportunities highlighted at this week's annual NATPE conference in Las Vegas. JPMorgan Chase analyst Spencer Wang says the earliest signs of this fundamental value shift is the sharp contrast between the languishing stock price of traditional media companies (representing an estimated loss of $31 billion in collective market capitalization) and the meteoric rise of so-called new-media stocks (reflecting an aggregate $69 billion gain in market cap). More directly, evolving new business models are gradually redefining the value of content in the digital age: what distributors and consumers are willing to pay, what it costs to produce and how much revenue and profit is generated as compared to traditional ways of doing business.

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