Farmville is entertainment. Memes are entertainment. Entertainment is distraction.
Trying to fight stories with entertainment is a losing battle. There's a reason that despite terrible profit margins (4-9%) six studios have had a lock down on narrative filmmaking for nearly a century. It's an incredibly stable industry, and the stories of its death have been greatly exaggerated.
Of course, maybe I'm wrong. Maybe if you conjure up the right form of short-term brain crack, you'll be able to "destroy hollywood." If you really think that the secret to sniping the Big Six is building a better, faster Nyan Cat, well then . . . be my guest.
You want to create a place dedicated to locating and attracting young talent (directors, writers, actors, and producers) that's capable of producing high volumes of low cost product. You want to design a golden era Hollywood studio for the modern age.
This studio would have two main components. Production and distribution. The production side is essentially a no brainer. You grow a pool of talent, and you keep that talent working 8 days a week, producing a diverse slate of low cost filmed entertainment on an aggressive schedule. Ideally, pictures would take 12 days to shoot, and would have budgets in the thousands instead of the millions. You'd be producing so many stories, that you could afford to make them highly specialized in their appeal - you wouldn't have to generate "four quad" films, you could instead afford to cater to smaller audiences but satisfy those smaller audiences more completely. People have tuned off Hollywood films in the last decade because those films have become too focused on mass market appeal - in having "something for everyone" they have instead produced stories with something for no one. The idea of our hypothetical studio is to reverse that trend. Tell stories that only appeal to select audiences, but REALLY appeal to those audiences.
This leads to the second half of our hypothetical studio (and frankly, being a filmmaker and not a businessman, the half that I have less competence with): distribution. This would in fact be the more critical and difficult component of the company to build, because it would be the side dedicated to identifying, locating, and reaching those smaller, more specialized audiences. Our creative talent - the writers, directors and actors - tells the stories, and our distribution team gets those stories in front of the right audiences. It wouldn't take long for a deep and sustaining feedback loop to develop between the two halves of our studio - close communication with our audiences would give the creators more guidance in learning what works and what doesn't on screen, leading to better stories which would grow a more dedicated audience or fan base. In their own ways, this is what Kevin Smith and Joss Whedon have done by reaching out to and learning from their fan bases.
The hypothetical studio I've outlined is exactly what golden age studios did to great effect before theater ownership became a losing battle and the star system began to crumble. In the modern era, we have the advantage of dramatically lowered distribution costs - a computer in every home - but the disadvantage of a greater signal to noise ratio. But this system - small studios producing a high volume of targeted stories at low cost - has proved repeatable and profitable. You could make the argument that Corman, with AIP and New World Pictures, saved Hollywood filmmaking during the New Hollywood period by using exactly the system I've outlined above to locate and nurture new talent while maintaining a high profitability.
So anyways. That's what I think. We shouldn't be focused on producing a new form of entertainment. As consumers, we don't really need or want a new medium; the bump and decline of 3D sales has proved this, I think. Novelty only carries you so far. What is needed is instead a more economically savvy model, focused on generating stories geared towards smaller audiences that will embrace those stories more passionately. We need a studio that will take as it's battle cry "We'd rather be nine people's favorite thing than 100 people's ninth favorite thing." (http://www.youtube.com/watch?v=rAFo3kONbdE) You need a new Roger Corman. I am, of course, always available for the job.