Media Companies: Go Mobile or Become Social Media Serfs

Media companies have to go mobile or they risk becoming serfs in Facebook's kingdom.Media companies are having a hard time trying to get people to pay for digital news. When there are so many sites that just provide headlines and a few paragraphs of sensational context (which is what most people want, anyway), it’s difficult to convince readers that “news” is a product that’s worth any money.

That’s why media companies have come to rely on advertising so heavily. Right now, 69% of all domestic news revenue is tied to advertising. And how do media companies ensure that they get the most potential exposure for advertisers? They bring in traffic. Lots and lots of traffic.

Facebook is responsible for a huge amount of that traffic, so it should be no surprise that the social media giant is enticing publishers with promises of lots of traffic and engagement in exchange for a deal in which, according to The New York Times, “media companies would essentially be serfs in a kingdom that Facebook owns.”

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How eBooks Can Save Journalism

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At the Conservative Political Action Committee (CPAC), Michelle Bachmann said a lot of things that weren’t true. She said she got the information from a self-published book, Presidential Perks Gone Royal. It’s written by a Republican lobbyist.

Bachmann trusted a book’s facts. Nothing wrong with that. However, with the filters for publication down, lies and truth are indiscernible. Promotional muscle is all one needs to propagate self-published propaganda.

Journalism used to show us the truth. That happened in this case. But for how much longer? How long are people going to keep paying for something as boring as facts?

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Media, The Reality Funnel

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Did anyone else feel a kind of dull depression when the stocks first dove recently? Or an exhiliration when they seemed to rise again? Are you a stockbroker? Probably not.

We’ve reached a point where the things we feel don’t have to have any impact on us whatsoever, because we instead feel a sentiment so abstractedly that some blips on the computer or television screen can affect our physical well-being.

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