Talking about blogging and other phenomenons circling mainstream media…
It is tempting, but wrong, for the traditional mainstream media (which includes The Economist) to belittle this sort of thing. It is true, for instance, that the vast majority of blogs are not worth reading and, in fact, are not read (although the same is true of much in traditional newspapers). On the other hand, bloggers play an increasingly prominent part in the wider media drama—witness their role in America’s presidential election last year.
So says The Economist in a thoughtful article at economist.com.
The article was prompted by the widely reported speech by Rupert Murdoch to the American Society of Newspaper Editors last week.
Newsagents, as part of the news and information supply chain, need to enagge in discussion on these issues. While we worry about issues of today (cover price, delivery fees, late papers, over supply, under supply and greater competition) it is the news and information products we don’t sell, the new media, which we need to be building our business models in response to.
Australia’s 4,600 newsagents can play a role in this new world if we act quickly. We have to establish a better connect with our local community; we have to make each product we carry pay its own way (no more piggy backing in pursuit of profitability); we need to consider creating our own content; we need to urgently pursue recharge business; we need to pursue value add products; we need to find a way for our 4,600 sgtrong network to be part of the digital supply chain and to own that.
Our response cannot begin until we accept that the world is changing in a way which requires a response from us.