The crisis of legacy media.

The Pew Research Center report on media for 2008 makes groundbreaking observations.

‘the top 10 news Web sites, drawing mostly from old brands, are more of an oligarchy, commanding a larger share of audience, than in the legacy media’ (top 10 has more traffic than following 90 sites together!) ‘Online, the problem is that the revenue model is in search, not conventional advertising’ (Banner is dying!) ‘blogs and public affairs Web sites attract a smaller audience than expected and are produced by people with even more elite backgrounds than journalists’ (the long tail is infinite!). 

Well it is a new oligarchy replacing  publishers, get over it. As I recall the monks and monasteries of Europe were replaced by publishers and printers and I didn’t hear anyone screaming. The revenue model is in search, but far more relevant is the revenue model in contextualization and personalization. Lets treat people as individuals rather than a mass sycophantic segmented mob!

Bloggers like me are just an elite as any other elite, except we choose ourselves, rather than somebody else doing it for us. However, there are more than 200 million of us compared to just 50 million legacy media websites. We win on democratization of the oligarchy.


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