Bloggers and Big Media

Professor Jay Rosen from NYU writes about a recent conference between Big Media members and bloggers - no direct quoting was allowed but he sums up the general gist of what people were saying about where journalism is going, etc. Lots of interesting thoughts in here. Here's a snippet from Rosen's piece.

"No one doubts the news business will eventually migrate to a new platform on the Net. In the meantime, the traditional model—including trucking the newspaper to people—is a big business with sound cash flow. It’s foolish to think it will soon expire. Yes, a new foundation is emerging. For now, the old structures remain because they bring in the money the Web cannot. This isn’t like the tech industry where market position can melt away in a year if you don’t innovate.

Still, it was agreed: Big Media does not know how to innovate. What capacity for product development do news organizations show? Zip. How are they on nurturing innovation? Terrible. Is there an entreprenurial spirit in newsrooms? No. Do smart young people ever come in and overturn everything? Never. Do these firms attract designers and geeks who are gifted with technology? They don’t, because they don’t do anything challenging enough. They don’t innovate, or pay well. So they can’t compete."

And this ...

"In competing on the Web, the bloggers do not alarm big media. It’s people like Bill Gannon. Yahoo worries them, with its surging revenues, huge traffic flow, and recent moves in news and editorial that involve original content. The portals attract talent, and with their billions they can fund innovation, and roll out new products. This capacity dwarfs what the old line media companies can do, even if everyone on the editorial staff became a Webbie overnight."