Comments on: The internet and news media http://clubtroppo.com.au/2009/06/27/the-internet-and-news-media/ Fearlessly dispensing political, legal and economic analysis (and some whimsy) since 2002 Fri, 25 May 2012 13:31:17 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: peterlynch http://clubtroppo.com.au/2009/06/27/the-internet-and-news-media/#comment-358621 peterlynch Sun, 28 Jun 2009 13:12:00 +0000 http://clubtroppo.com.au/?p=8818#comment-358621 Here's an interesting case study: WASHINGTON (AFP) - Pop star Michael Jackson's death marked a coming of age for the digital era as a website, TMZ.com, scooped the rest of the world's media and millions around the world found out about it online. TMZ, a joint venture of Telepictures Productions and Time Warner's Web portal AOL, was the first to report both Jackson's hospitalization and death, leaving more established media outlets scrambling to catch up in its wake. News of Jackson's death rocketed around the Web at cyberspeed based solely on the TMZ report, spread by posts on micro-blogging service Twitter, Facebook status updates and instant messages. The heavy traffic reportedly strained the servers of a number of websites, including Twitter, but they mostly held up under the heavy load. "Today was a seminal moment in Internet history," TMZ co-owner AOL said in a statement. Here’s an interesting case study:

WASHINGTON (AFP) – Pop star Michael Jackson’s death marked a coming of age for the digital era as a website, TMZ.com, scooped the rest of the world’s media and millions around the world found out about it online.

TMZ, a joint venture of Telepictures Productions and Time Warner’s Web portal AOL, was the first to report both Jackson’s hospitalization and death, leaving more established media outlets scrambling to catch up in its wake.

News of Jackson’s death rocketed around the Web at cyberspeed based solely on the TMZ report, spread by posts on micro-blogging service Twitter, Facebook status updates and instant messages.

The heavy traffic reportedly strained the servers of a number of websites, including Twitter, but they mostly held up under the heavy load.

“Today was a seminal moment in Internet history,” TMZ co-owner AOL said in a statement.

]]> By: peterlynch http://clubtroppo.com.au/2009/06/27/the-internet-and-news-media/#comment-358619 peterlynch Sun, 28 Jun 2009 12:44:29 +0000 http://clubtroppo.com.au/?p=8818#comment-358619 The last paragraph of the conclusions in this report is fascinating! The rest is no revelation. But it does pose a significant question. The investment in news operations by traditional newspapers has meant they have led the pack in hard news publishing, with a few notable television exceptions, for decades. TV and radio have habitually fed off these newsrooms, and now the internet and bloggers are doing the same. For "breaking news", read:the morning papers have arrived in the office! Brings a new meaning to "This just in." The difference is that, while TV, radio and newspapers have coexisted because media buyers decided they performed different tasks for their clients, online has eaten into the revenue streams which support expensive newspaper newsrooms, namely classifieds. Evolutionary? Certainly. Reversible - not really. Dangerous - yes...and no. Newspaper owners , now that the GEC has produced the tipping point where classifieds have deserted their print products forever, are slashing back reporting staff. The content which all media fed off for so long is being shut off. Rupert Murdoch and other owners are trying to change the model by suggesting paid-for sites containing the best exclusive content. As the authors of this report note, this puts important information in the hands of the few. But better in the hands of the few than no-one. The real question is: will the web, which has, with some notable exceptions, had a free ride and low cost content for so long, divert revenue to create hard news content as a traffic driver? I see "green shoots". Some major sites now believe their news coverage has to be enhanced with "exclusives" and good, solid coverage. Their reporters are not just "aggregators", but intelligent analysts and news breakers. When more sites pay for journalists who can not just copy or entertain, but create insights and exclusive news, and when these reports drive traffic (and advertising!), all those who believe in the importance of good, quality journalism can sleep easy in their beds! I'm optimistic! Peter Lynch, BigSplash Media The last paragraph of the conclusions in this report is fascinating! The rest is no revelation. But it does pose a significant question.
The investment in news operations by traditional newspapers has meant they have led the pack in hard news publishing, with a few notable television exceptions, for decades. TV and radio have habitually fed off these newsrooms, and now the internet and bloggers are doing the same.
For “breaking news”, read:the morning papers have arrived in the office! Brings a new meaning to “This just in.”
The difference is that, while TV, radio and newspapers have coexisted because media buyers decided they performed different tasks for their clients, online has eaten into the revenue streams which support expensive newspaper newsrooms, namely classifieds.
Evolutionary? Certainly. Reversible – not really. Dangerous – yes…and no.
Newspaper owners , now that the GEC has produced the tipping point where classifieds have deserted their print products forever, are slashing back reporting staff. The content which all media fed off for so long is being shut off.
Rupert Murdoch and other owners are trying to change the model by suggesting paid-for sites containing the best exclusive content. As the authors of this report note, this puts important information in the hands of the few. But better in the hands of the few than no-one.
The real question is: will the web, which has, with some notable exceptions, had a free ride and low cost content for so long, divert revenue to create hard news content as a traffic driver?
I see “green shoots”. Some major sites now believe their news coverage has to be enhanced with “exclusives” and good, solid coverage. Their reporters are not just “aggregators”, but intelligent analysts and news breakers.
When more sites pay for journalists who can not just copy or entertain, but create insights and exclusive news, and when these reports drive traffic (and advertising!), all those who believe in the importance of good, quality journalism can sleep easy in their beds!
I’m optimistic!
Peter Lynch, BigSplash Media

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