I have always been under the assumption that traditional or “old” media has lost its’ mind. I have looked at traditional media (mainly newspapers) as a dying breed of communication that will not change with the landscape of technology. If you do not shift your paradigm you will die and currently.. that is what is happening. Traditional media never ranked high with me but I have started to see another side to this coin.
Recently the Wall Street Journal editor Robert Thomson blasted Google and other content aggregators as “parasites of the Internet.” I thought this was a little over the top and then I read a little deeper into the article.
I am going to stop there for a side comment. The simple fact that I decided to read the REST of the article before making a qualified decision is probably part of the problem. We are way… way.. way.. to ADD as a society and social media is not helping in that arena.
I am starting to understand the concept behind the value of premium content. I can see where WSJ is coming from when it comes to content aggregators. I can also see where the Internet model is changing the way we consume media. Rupert Murdoch at News Corp is trying to be innovative with the media shift but I do not see the WSJ making any HUGE strides to welcome the new wave of communication tools. Please, correct me if I am wrong.
There is going to come a time when the shift is over and traditional media will be mutated into a massive conglomerate of data and information. Until that time, Google and premium content portals like Wall Street Journal will need to become even MORE innovative than before.
The world is consuming content at an unbelievable speed. The question is… how do you monetize that consumption?