Just over a week ago during lunch at the New Communication Forum, I had a great conversation with Tim Tozer from Radian6 (a social media monitoring service) about the real metrics that marketers are looking for and the increasingly common difficulty of finding metrics that are actually useful and offer actionable insights. Many people who have to contend with web analytics tools today will tell you that it is no longer an issue of having the technology available to measure things online, but rather the analytical ability to hone in on the metrics that really matter.

There are two principal ways advertisers are trying to create value for consumers on the web — and they must create value because, you know, consumers are in control. On the web, advertisers can provide entertainment or information. How effective is advertising as information on the web? See Google’s $15B in ad revenue — an $5.19 billion in ad revenue in Q1 2008. The technology of web search enabled advertisers to create value for consumers in a way that was never possible in analogue media.

After a spasm of irrational exuberance pushed shares of Netflix to new highs over the past few weeks investors abruptly reversed course late Monday, hammering the shares in after-hours trading after the company's Q1 earnings report included lower-than-hoped for guidance for the rest of the year. After officially closing up almost 2% on the day, the shares plunged more than 14% in the after-hours market, losing $5.52 a piece. The company shaved 1 cent off the upper end of its projected full-year EPS to $1.29, quickly deflating a bubble of expectation that had lifted the shares by nearly 50% over the past year.

Last week Apple and 02 announced that they had cut the price of the 8GB iPhone by £100 in the UK until June 1st. As always with Apple, the announcement generated a huge amount of media interest – including speculation that the launch of a 3G iPhone is now imminent. ‘iphone’ was the seventh fastest moving search term sending traffic to our News and Media category last week, and searches for the term reached their highest peak this year as a result.

A colleague forwarded me a fantastic article from Ad Age "It's Web 3.0, and Someone Else's Content is King". The article is worth a read for anyone in the content business. The author, Matthew Creamer, suggests that Web 3.0 will be about monetizing the web's openness and points to examples in the news business of websites aggregating other people's content for profit. Are content aggregators in fact growing in popularity? The author cites Michael Wolff of Newser: "The space is heating up". According to internet usage data, is it?

Online video is a hot topic these days with new entrants coming online (e.g. PluggedIn) and out of beta (e.g. Hulu) every day. We are seeing users spend a bit more more time with the video websites, spending an average of 16 minutes and 12 seconds for the week ending April 12, 2008 as compared to 15 minutes and 14 seconds during the same week last year. One interesting trend that I have noticed is that search engines and social networks are now accounting for an equal share of referred traffic. Last week (ending April 12, 2008) the share of upstream traffic from search increased 35% over the same week the previous year, while the referred traffic from social networks declined 20%.

Facebook has had an update feature similar to Twitter for a while. Now Facebook has a feature that lets users add feeds from other web services like Flickr and del.icio.us — just like FriendFeed. From a technology perspective, Twitter and FriendFeed are now reducable to Facebook features. Even if those two apps are currently more robust than their equivalent Facebook features, there’s nothing to stop Facebook from copying them in their entirety.

Website operators who allow the posting of user-generated content on their sites enjoy broad immunity from legal liability. This includes immunity from copyright violations if the site owner registers with the Copyright Office, does not encourage the copyright violations and takes down infringing content upon receiving notice from a copyright owner (see our post here for more information). There is also broad immunity from liability for other legal violations that may occur within user-generated content.

On Wednesday, everyone that is heading out to the Coachella Valley Music & Arts Festival in two weeks received the news of a surprise addition to the line-up – Prince. Coachella is always surrounded by rumors about the line-up and potential to almost impossible reunions, such as The Smiths, before the official announcements are made in January. Every year, fans debate and dispel rumors regarding which bands & artists will play the festival out in Indio, CA on blogs, message boards, and MySpace.

While US webcasters may think that they have legal issues - whether it be the Internet radio music royalties that have been such a concern (see our coverage, here) or the copyright and other liability issues that surround user-generated content on various websites (see our story here), they face nothing like new rules that were recently adopted for webcasters in China. The new rules require government permits from two separate Chinese government agencies before webcasting operations can begin. In addition, the rules appear to require ownership and control of webcasting operations by state-owned companies. A memo on these new rules, prepared by attorneys from Davis Wright Tremaine's Shanghai office, can be found here.

There is a dirty little secret in the cable industry. Its being kept secret not by the cable distributors, but by the big cable networks. End this practice and the United States goes from being 3rd world by international broadband standards, to top of the charts and exemplary. Make this change and Net Neutrality becomes a non issue. There is plenty of bandwidth for everyone. What is the dirty little secret? That your cable company still delivers basic cable networks in analog.

A recent Reuters article discussed the missed opportunity by the music industry to capitalize upon searches for bands & artists that result in a visit to Wikipedia. A typical search result on a band or musician will display their own website, MySpace profile, and Wikipedia entry. For the majority of the most-searched bands & artists, these results are the most visited websites, with some variations in the rankings. A quick look at the websites visited immediately following a search for the top ten most-searched bands & artists for the 4 weeks ending March 29, 2008 shows that for 8 out of 10 of them, Wikipedia is more commonly receiving traffic from the searches than MySpace (although MySpace also ranks high for many as well).