Convener: Melinda Wittstock
Reporter: Jim Shaffer
Attendees: Ken Berents, Bill Drasean, Jonathan Lawson, Jean Min, Jim Shaffer, Duane Stoltzfus, Michael VanBuren,
MW: Key question for session: Any positive opportunities in the upcoming changes?
First, what changes do we see coming?
KB: They are here already!
Internet; Satellite radio will cause demand reduction for land radio within 5 years. Local radio signals will go silent.
TV margins are declining.
BD: WiFi. Electronic dissemination of “print”
MV: Podcasting
Duane: 1. Low expectations of young people, both for journalism and for their interest and/or ability to connect with the broader world around them … fragmentation of interests/audience.
** 2. At least signals being vacated imply an opportunity for others to move in.
JS: 1. Decline of mass marketing at just the same time that the traditional add-supported media are becoming less effective as mass marketing vehicles – a double whammy.
- Collapse of economic models that have traditionally supported journalism.
- Fragmentation of audiences.
JM: The “bell curve” is flattening. The are fewer mass products in the middle; more products and audiences on the fringe. Everything is more specialized.
** JL: … reduced local news production .. provides an opportunity for new entrants and
new services from existing players.
KB: Example – Clear Channel created opportunity for Journal Communications in Milwaukee.
Other observations about opportunities
** MW: See a juxtaposition of fragmentation of audience with consolidation of media …
creating opportunities for niche businesses.
(Discussion of convergence)
MW: Not all journalists can do it all.
JM: Seen it work in Seoul …sometimes with surprising opportunities, such as when the I/N enlarged their broadcast audience by pulling in distant time zones.
MW: Suggests the ultimate independence of content from vehicle
(Discussion of the role of trust and lack of trustable sites in the cacophony of the I/N )
** Several: So there’s an opportunity to create trust in an undisciplined environment.
KB: Trust relates to brand. Need to build trusted brands.
(Discussion of need for targeted advertising)
Duane: Two types of trust. 1. Trust in the organization’s content and editing. 2. Credibility that the organization can add to other sites by linking to them, effectively certifying them as OK.
** MW: Another opportunity is the immediacy of the I/N. Instant information.
BD: Some sites current but less trusted. Others more trusted.
** (Discussion of multi-purposing news)
Examples: BBC, Nicholas Kristof,
KB: Times Select also expands revenues for the journalists.
** Discussion of the opportunity of the I/N as a media that strengthens relationships
JM: Younger audiences interested in connectivity … important for media sites to capitalize on this.
MW: Direct access to news sources. KB: Or their low levels staff …
JS: And to and among other news consumers. Text messaging. Chat sites. Bulletin boards
Many: So an opportunity of the new media is to fulfill a need to build relationships both among news consumers and between consumers and sources. This leads to a blurred distinction between “users” and “generators” of news.
JM: Involvement of the people with the stories leads to commitment and passion about the media.
(Ken B leaves; Michael V leaves)
MW: How to accommodate the exploring/browsing need?
(Discussion of the pay per click or pay per package models)
JS: Had some experience with that. The technology works, but the investment bankers weren’t convinced.
(Back to user participation with stories)
** JM: In Korea, some sites get huge discussions going at the end of posted articles, and they
charge the users to stay on and converse. … “Reverse versioning” … Some people seeking credibility of adjacency
… vanity publishing
Selected wrap-up
** BK: If we can be electronic, local news can be both more specialized and more current.
JS: We just have to let go of our cherished one to many models and our definition of journalism by vehicle, rather than content.
MW: There IS opportunity … need to separate content from delivery vehicle.
Summary – Opportunities identified:
- Signals being vacated imply an opportunity for others to move in.
- Reduced local news production … provides an opportunity for new entrants.
- A juxtaposition of fragmentation of audience with consolidation of media creates new opportunities for niche businesses.
- There’s an opportunity to create trust, and, hence, value, in an undisciplined environment.
- Immediacy of the I/N. Instant information.
- Multi-purposing news expands both audience and revenues.
- Development of the I/N as a media that strengthens relationships
- Paid vanity publishing
- With I/N, local news can be both more specialized and more current.