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With all the talk about the iPhone, it was almost easy to forget Apple’s product portfolio is one of the treasure chests of industry.  They make great returns on the entire iPod line.  They do a robust business with iTunes.  And of course, there’s the computer line which has a devoted, loyal fan base and a solid profit margin.

Today after the close of market, to the legions of Apple fans, and hungry investors anxious for a benchmark to measure performance of technology and consumer products, Apple announced their earnings for their fiscal third quarter.  The numbers were strong, and buried in the guidance there were hints of new products to come.

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Hearst Corporation is largely known for its collection of magazines and newspapers which includes titles ranging from Esquire and Cosmopolitan to O to the San Francisco Chronicle but the company is also one of the worlds largest diversified media companies.  In addition to its print properties, Hearst has vast media holdings including stakes in television channels, Television networks including ESPN and A&E Networks and significant Internet properties and investments.

Today, Hearst announced UGO Networks (aka Underground Online) will join the list.  UGO will be acquired by Hearst’s Interactive Media division.  While the division has been an active investor in a number of Internet properties (Brightcove, Pandora, iVillage) this will be one of its first outright purchases of a large property.

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Outside of a small microcosm, the phrase “social network” tends to bring to mind a short list of names usually led by MySpace and Facebook, and for those whose memory spans back to buzzword bingo from a few years ago, Friendster too. 

Beyond the two biggest names, and the first to break the ground, there are also hundreds of other sites that offer similar features and fall under similar classification.  Some of these sites target specialty niches like sports fans at particular universities (Fsurules.com) others are more multi-national in focus (Bebo).

San Francisco based Hi5 is among the larger social network sites beyond MySpace and Facebook.  And according to a report published yesterday on Venture Beat, they’ve raised $20m in a private financing Click to Read More

In ancient mythology, Icarus built wings of wax to fly.  As he soared, getting closer and closer to the sun, his wings began to melt.  Eventually, in most things, what goes up eventually comes down.  It’s gravity, laws of nature.   In business the same rules can apply too.  The higher expectations get, the more likely the odds of trouble.  The bigger you get, the harder it is to fly (e.g. grow at an outrageous rate).

After the close of markets today, Google reported its earnings for the second quarter. The numbers were good, 28% growth in revenue, but expectations were high up in the atmosphere. Analysts expected lower costs, and Google failed to meet profit expectations.  It was only the second miss since Google went public in 2004.  (Google does not give sales or earnings guidance and is tight lipped about expenses.   Without sharing such information, it’s especially difficult for analysts to make accurate projections. Given the history of growth, it was only a matter of time before analyst expectations exceeded reality).

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When MTV began in the early 80s its edgy counter culture appeal helped build its foundation. When YouTube took off and became a household word, it too benefited heavily from its alternative, under-produced content (which was arguably similar in form to what MTV aired decades earlier).  Across the board in media and entertainment, from websites like MySpace to Indie Music production back to Facebook online, appealing to the fringe, to a smaller group, focusing on a niche of “hip and cool” has often helped push companies forward.

That narrow focus is doubly beneficial.  It helps keep a company off the radar of bigger competitors and it helps them build a loyal, dedicated fan base from which to expand.  But as companies grow in appeal and audience, they all face one of the most difficult challenges in marketing: bridging the gap between counter-culture edge (and niche market focus) to mainstream popularity and an expanding sphere of influence.

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Just when it seems everyone is getting into Internet video, in a reverse twist, Sony is backing out; at least with regard to their strategy.

Last year, Sony bought video sharing site Grouper for a crisp $65m.  It was to by Sony’s portal for sharing video, Sony’s clone of YouTube.  ….now, the towels been thrown in and the fight called.  Instead of trying to compete with established players, Sony will rebrand the property and redeploy it toward a new end: video creation.

Henceforward Grouper will be called Crackle.  And lest there be any doubt about a change of direction, there is the official pronouncement of its demise from Josh Felser, a founder of Grouper and the man in charge of Crackle.  He said unequivocally, “User Generated content is dead to us. … We are definitely leaving video sharing and focusing on emerging talent.”  Crackle will help to finance, promote and syndicate the work of Internet video auteurs.

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Brightcove, the Cambridge Massachusetts Internet TV syndication and service provider announced this week they are officially crossing the pond. 

After previously signing UK based media programmers British Sky Broadcasting, Sony BMG UK and others, Brightcove will open London offices.

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