MediaPredict.com - Market prediction game

Are you curious as to what the next best seller will be, or the next great sitcom? If you are, then MediaPredict is a good site for you. MediaPredict created a prediction market game in the “last-mile” evaluation of books, music, and television. The site provides a way to measure whether or not a book proposal or new band is worth developing and investing in. The sites´ staff places pre-screened material onto the site, and registered users have fake money to use as an investment. Essentially, the users use fake money, given by the site when registering, to bet on whether or not the book or band has a chance of being signed, or offered a book deal. Bands, shows and books are all given detailed descriptions and some have clips or excerpts. The sites goal is that media companies will actually use information gained from the game, and therefore put on shows, and publish books that the public actually wants. Authors can also submit a book proposal, and the site´s editorial staff will decide if it will be put onto the site for betting.

“Media Predict rates media content. We do so with prediction markets, and we believe our method may well be more effective than any other available today. Media Predict uses prediction markets to identify media products worthy of investment and development. Prediction markets have an astonishing record of success in forecasting economic indicators, election results, sales levels and more. Our markets help media companies put out better content, which means better media for everyone.”

Media companies are always looking to find the next be thing, whether that may be a new book, or an undiscovered band. Media companies can use all the market research they can get, in order to better there chance of succeeding. The site could not only become popular with companies, publishers, and investors looking for insight, but also the game aspect can attract an everyday book critic, or just someone looking to have a little fun and bet using fake money.

Are the amount of bets placed on a single product accurate of the quality and chances for success? How is the data organized and protected to not be skewed?