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Title : The benevolent virus that is saving the news media
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The benevolent virus that is saving the news media

The network effects that destroyed traditional news organizations are benefiting digital startups, which can grow virally and generate outsized impact in their communities. 

 

From Unimedliving

My teaching colleagues are experts on the economics of the media industry, and we recently had a lively debate on how to reverse the financial crisis of journalism. The collapse of the industry's business model is endangering the institution of journalism-the Fourth Estate, a counterweight to power--by eliminating journalists and media coverage, especially for local media.


It's a question that was explored recently by Ken Doctor at Nieman Lab in his report, "Newspapers are shells of their former selves. So who’s going to build what comes next in local?"

Doctor details a number of initiatives by non-profit and for-profit organizations aimed at filling the gaps in local news coverage involving hundreds of media outlets. But using the standard industry metrics, it doesn't a appear to be sufficient to plug the gaps in the short term without significant changes in the way news media do business. Entire communities are losing news coverage of any kind, a pillar of democratic institutions.

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