Adapting to the Market: Thats whats happening to the news

The Frontline piece on what is happening to the news media brought out some very important issues about where our industry is going. They question the efficacy of large public owned newspapers and the credibility of the new electronic journalists. I believe that there is a lot of hype over what is simply the market shifting to please its audience. The news industry has proven to be very dynamic over the past two or three hundred years. It shouldn't surprise us that old methods and technologies will be phased out to meet the needs of a new generation.

I find it hard to believe that the consolidation of the news agencies will result in a horribly distorted market. The thirst for knowledge in toady's society is insatiable. If people were truly content with any information, there would be no market for bloggers, online news casts, and online news agencies. Despite the criticism from the mainstream journalists, the news is more subject to the viewers wants and needs. This development is a double edged sword. The viewers decide what is important to them and so they are fed. As the sword is swung the other way, other potentially important stories are left behind and people will only learn what they want to learn. With news commentary gaining more momentum over traditional news casts we can expect less news and more analysis.

We can have faith however that in our competitive market, if there is a void of more news and information, someone will fill it. Where there is profit to be made, you'll find a capitalist. America's rising generation has plenty of computer savvy capitalists. The example of rocketboom.com is a perfect to show how entrepreneurs will fill the void mainstream media outelts leave open. Information flows through what used to be gatekeepers without much control. People decide what is important, the media needs to tell us what is happening, why we should care, and how it will affect us.

Don't hold your breathe PBS, your old time journalists aren't making a comeback. They are stickin around in the 70's with thier polyester and liesure suits.