As we look at other creative industries, it is interesitng to note their focus. John J. Lee, Jr. says the number one principle for producers is:
Discovering, developing, and producing quality stories is the central focus. Story is the single most essential, important, and powerful asset.
I would say that rather than "content being king" it is context, that is to say "the set of circumstances or facts that surround a particular event or situation" that give it it's meaning. Without context or "story" you don't have much more than facts on pages--electronic pages maybe, but pages none-the-less.
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