Established in 1984,
Technology, Entertainment, and Design (TED) has come a long way to become one
of the most iconic intellectual forums in the world. It's a place where the
world's greatest minds can share and exchange ideas, as well as participate in
healthy discussions. Yet, behind every milestone is a troubled tale.
Before the 21st
century, TED
didn't enjoy the same level of success as it does now. First, it was an
invitation-only event; second, it was often in the red. Even though TED
encourages a free exchange of ideas, holding an annual conference still
requires money. In 2001, the nonprofit Sapling Foundation acquired TED and
underwent radical changes.
However, TED's
defining moment came in 2006 when it decided to offer some of its content for
free. According to June Cohen, TED executive producer for media, it could've
"capsized" the TED business model. Surprisingly, the opposite
happened; not only did TED enjoy viewership by the billion, its annual
membership fee of $7,500 didn't seem to deter prospective clients.
By opening their
content to everyone, TED fulfilled one of the basic functions of the Internet
today, which is the unhindered exchange of information. This gave TED so much
exposure that TED conferences are quick to sell out in advance, despite the
fact that you need to be a TED member to attend.
Since then, TED has
branched out to different divisions such as TEDGlobal, TEDFellows, and TEDx.
From a marketing perspective, TED's story is a success story in itself.
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