Media's future hinges on convergence and making money online
"The Web is the only part of the mainstream news business that generally is seeing audiences grow, especially among the young," according to a massive new study on the State of the Media from The Project for Excellence in Journalism.
The report also says that despite fears online might cannabilize other media, it's more likely that in the future distinctions between media forms will begin to blur as online converges with older media, rather than replaces it.
"When audience trends are examined closely, one cannot escape the sense that the nation is heading toward a situation, especially at the national level, in which institutions that were once in different media, such as CBS and The Washington Post, will be direct competitors on a single primary field of battle -- online. The idea that the medium is the message increasingly will be passe. This is an exciting possibility that offers the potential of new audiences, new ways of storytelling, more immediacy and more citizen involvement....
"Online, The Washington Post will not be a newspaper company but a text, picture and video news provider. CBS News will not be a broadcaster. It, too, will be a text, audio and video news organization. Nor will news just be consumed on computers, television or in print. News will be made to fit computers, PDAs, phones and perhaps more. Before too long, people riding the subway home from work may turn on their phones and watch a network anchor delivers the news, not because the anchor happens to be on but because he or she is "on," on demand."
Sounds fantastic.
But... at the same time, the report warns, this could pose a serious threat to the quality of the media. Why? Because Web journalism is primarily financed by old media with shrinking audiences and hasn't yet figured out how to pay its own way.
"If people increasingly substitute the Web for their old media before a robust economic model for the Web evolves, the economic effect could be devastating for journalism. Companies might begin to cut back significantly on their newsgathering abilities, as audiences abandon profitable old platforms in favor of less profitable new ones. The net in this case might weaken, not strengthen, the economic vitality of news organizations and the quality of American journalism."
To put it bluntly, this means that the future quality of American journalism may depend on news organizations' figuring out how to make money online.
Mar 15, 2004 | E-MAIL | SAVE | PRINT
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2 comments about 'Media's future hinges on convergence and making money online'thanks for the post..its very helpful..goodluck!
tinjofs
Posted by tinjofs at July 5, 2007 11:06 AM
Hi!!! nice post for me, continue sharing it with us, its a good idea. We are all looking for that one program, idea, concept that will make us the money we are looking for. But if your mind is not ready to "accept" the new idea.... it may just pass you by without you even knowing it. What I'm trying to say is it's important to know just what you are looking for before you go hunting.
crizza
Posted by wealth and abundance at July 5, 2007 11:57 AM
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