Is the era of big news tycoons over? Today, few people are truly loyal to a single news outlet, and sitting down for the 6:00 news or the 11:00 news is a nightly event that seems ancient. In fact, most of the news featured on nightly television news programs or the morning drive radio news programs has already broken, been discussed, and become old by the time those programs air.
As Marji McClure of EContent explains, the web and social media have changed the news media terrain, and people turn to a variety of news sources for timely, niche content more frequently than ever.
Newstex President Larry Schwartz offered his insight to EContent explaining the speed at which news travels as well as the segmentation of the news and content industry, particularly online, has forced media to keep up with consumer demands for faster information. That’s where bloggers, content publishers, start-up media sites, and content aggregators can fill in the gaps and find huge success.
Larry explained to EContent, “A single person now can be a news source and publish, broadcast, and get as much buzz as [a larger outlet]. A single person can tweet a story and have as much impact as The New York Times. That’s a huge change.” However, he is quick to point out that the perception of these smaller publishers has also evolved. “They’re just not people sitting at home in their pajamas anymore. These are important media companies that sway public opinion.”
Many of these influential publishers gain traction by focusing on specific niches that larger media organizations can’t cover at the level of detail that audiences want. He explains, “Nationally or internationally, if your interest is technology or politics, the local paper of the nightly news just doesn’t deliver the depth or analysis that you want anymore. There are so many choices. There is so much segmentation.”
News tycoons aren’t going to die in the near future, but smaller news organizations and publishers will continue to seize opportunities to provide more personalized coverage of niche topics. They’ll also benefit from the flexibility that a smaller staff offers in terms of enabling them to respond quickly to news.
Many smaller publishers like The Huffington Post, paidContent, and TechCrunch, started out with similar business models (niche content by a single person or small team) and grew to be news and content powerhouses. They won’t be the last to find success using this formula. In other words, the world of media, news, and content has changed dramatically, and it will continue to do so in order to keep up with evolving technology and consumers.
You can read the full article along with Larry’s complete commentary on the EContent website.
Image: Nicolas Raymond