On today’s episode of The Roadmap with Ted Jenkin, media and technology expert Louis Gump shares insights on the rapidly evolving media landscape and how businesses can foster innovation within their organizations. As the author of The Inside Innovator and the leader of Cambion, Gump discusses the impact of audience fragmentation, the need for legacy media reinvention, and the importance of internal entrepreneurship in driving growth.
The media industry is undergoing significant disruption, with audience fragmentation reshaping how content is consumed. Gump explains that while major events like the Super Bowl still draw large audiences, most viewers are now engaging with niche content across diverse platforms, including TikTok, Instagram, Twitch, and podcasts. To remain competitive, media companies must not only create high-quality content but also deliver it through the right channels, ensuring they meet audiences where they are.
Gump challenges the notion that legacy media is dying, arguing instead that it must reinvent itself to stay relevant. The shift from scheduled programming to on-demand content allows consumers to curate their media experiences, reinforcing the need for adaptability in content creation and distribution.
He also highlights the psychological phenomenon known as the “evidence-confirming trap,” where individuals gravitate toward media that aligns with their preexisting beliefs. To gain a broader perspective, he suggests diversifying news sources by selecting outlets with different viewpoints, such as a mix of domestic and international media.
Turning to innovation, Gump introduces the concept of “intrapreneurship,” the practice of driving innovation within an existing organization. Many professionals feel frustrated by inefficiencies or missed opportunities in their companies but struggle to implement change. He outlines key strategies for overcoming these barriers, including building a network of internal supporters, aligning ideas with the company’s strategic direction, and leveraging influence to drive meaningful change.
Using Cracker Barrel as an example, Gump illustrates how intrapreneurial thinking can revitalize a business. By introducing alcohol sales and takeout options—two departures from its traditional model—the company successfully adapted to consumer trends, leading to a significant increase in stock value. He emphasizes that successful innovation within a company requires identifying areas where there is a “right to play,” ensuring that new ideas align with the company’s strengths and market positioning.
"One of the most important things that really on-point media companies will do is not only create the content for the user but also understand the delivery channel and platform and meet the readers, the viewers where they are." - Louis Gump
