What are all the big players doing in the media business?
I was catching up with podcasts at the gym and finally got around to listening to journalism.co.uk’s round-up of 2014 developments in the media business.
It’s very good.
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The interviewees are the head of innovation journalism, City University London, senior writer at GigaOm, and the social media editor at the The Wall Street Journal. Here’s a fantastic little gem from their section on Facebook’s growth:
The biggest issue is … Facebook is this giant, 800-pound gorilla. They get to determine which content you see and which you don’t see, and they don’t tell you why or how…
It’s the biggest catch-22 in media right now – you cannot avoid Facebook – it has a billion people – and it’s got huge levels of engagement … but the more you deal with it, the more value you’re transferring to [it].
Facebook owns all the printing plants, all the satellites, all the trucks and all the news stands, and all the boys who sell papers in the streets.
That’s Mathew Ingram of GigaOm, who concludes that because we’re promoting our best content on social, our audience will end up associating good content with Facebook, not the creator.
It’s well worth a listen in full, as they also cover what business models companies tried out in the past year in a quick summary – the sale of Auto Trader, the Times paywall, and so on.