The Business Beat
At the recent College Media Advisers conference in New York, students had the chance to listen to Washington Post - Newsweek Interactive VP, Mark Whitaker. In his 40-minute speech, Whitaker outlined five pieces of bad news, five pieces of good news and ended his talk with what journalism students should do now.
In a room full of mostly print students, Whitaker says it’s time to think video……
A summary of his speech follows.
First the bad news.
1. The distribution model has been trumped by Google.
2. The Web has hurt advertising. Badly.
3. Competing Web sites run vertically and DEEP providing some information WaPo can’t touch.
4. Too much duplication in news.
5. Links and aggregation have been putting a whoop on traditional journalism.
The good news.
1. Media can find a way to beat Google at local search.
2. News is no longer a “voice on high”
3. Journalism can creat communities very effectively.
4. Print has found video and video is powerful.
5. Cost of experimentation is less on the Web.
What it means for students.
1. Must develop multimedia skills.
2. Students will bounce around in numerous jobs.
3. Students need to develop a sense of entrepeneurship.
4. Students must be open to other business models including starting your own biz.
5. Print does have a future.
on Mar 28th, 2007 at 6:54 pm
This clip reinforces exactly what Ralph has been saying for the last couple of years. Unfortunately, most students throw a deaf ear. Change is scary and people do not respond to it well. This is an excellent clip. It’s time to wake up and face what has happened to media. The changes are here to stay. The changes need to be embraced. Now is the time.