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The intro for yesterday's video interview with Don Marti started out by saying, "Don Marti," says Wikipedia, "is a writer and advocate for free and open source software, writing for LinuxWorld and Linux Today." As we noted, Don has moved on since that description was written. In today's interview he starts by talking about some things venture capitalist Mary Meeker of Kleiner Perkins has said, notably that people only spend 6% of their media-intake time with print, but advertisers spend 23% of their budgets on print ads. To find out why this is, you might want to read a piece Don wrote titled Targeted Advertising Considered Harmful. Or you can just watch today's video -- and if you didn't catch Part One of our video conversation yesterday, you might want to check it out before watching Part 2.

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Further fueling the ongoing debate over the future of the news media and independent journalism, eBay founder and billionaire Pierre Omidyar last month committed $250 million to a news site co-founded by journalist and author Glenn Greenwald. Omidyar’s investment followed the announcement over the summer that Amazon founder and CEO Jeff Bezos had purchased The Washington Post, also a $250 million investment. The late Steve Jobs’s wife, Lauren Powell, and 29-year-old Facebook co-founder Chris Hughes are also pouring money into old and new media ventures.

Could this new band of news media owners shape a technology-led business model that will be profitable and protect the integrity of impartial, ideology-free journalism? Ultimately, according to Wharton experts, the ball will rest with the consumer.

Any new business model that those in the technology world would bring to the media realm would have to address the major pain points currently facing the industry. News organizations have “suffered a lot financially in the past couple of years,” says Wharton marketing professor Pinar Yildirim. Circulation numbers and advertising revenue have shrunk as both readers and companies turned their focus to the Internet. The industry has tried to adjust to the new normal — some newspapers and magazines have cut back on issues or the number of days they produce a print product. Other news organizations have started charging for online access. Still more have tried to add content that mimics what tends to be most popular on the web, especially entertainment-related coverage, Yildirim notes.

Omidyar has indicated that he was motivated more by a desire to protect independent journalism than the prospect of getting a return on his investment, at least for now. In a blog post published on his website last month, Omidyar wrote that his investment in Greenwald’s venture (tentatively called “NewCo.”) stems from his “interest in journalism for some time now.” In 2010, Omidyar founded Honolulu Civil Beat, a news website with a stated focus on “investigative and watchdog journalism.” Earlier this summer, he explored buying The Washington Post newspaper before Bezos became the winning bidder. Around that time, Omidyar said he began thinking about the social impact he could help create with an investment in “something entirely new, built from the ground up.”

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