I’m going to share a thought that I’ve been pondering for a while. I’m sure many of you will disagree with me, and I’m not entirely sure I agree with myself. Here goes:
We all know that, as a general rule, entertainment based old media publications (i.e. magazines) are struggling. If you still feel the need to fight me on this please press ‘unfollow’ on my social profiles and close this window. The digital transition is hard too; keeping profitability is not what it once was with poor CPM’s and shifts in business models.
Right now we see the biggest competitor to traditional entertainment media as being internet content companies, and I don’t disagree they are short term competitors. At the same time, brands are leveraging social channels to connect directly with their customers, creating and sharing content their target customers want. At a local level small businesses are now coached to share relevant content. Larger brands are highly successful with this tactic. Often, I’m finding the content I prefer via a brand I follow over a news source.
I also find that brands, generally, are stronger community builders. I’m beginning to wonder if this shift is going to become mainstream and we hit a time in the next few years where the social masses are checking their Coca-Cola page before the New York Times. Moving to niche publications, there is always a brand trying to reach this market. Publications, after all, generally have a profit motive which means a pool of advertisers.
News sources, as always, are relevant for strong editorial content and certain segments; in some capacity they will always exist. I’m not entirely sure this is something I believe in, but if current trajectories remain unchanged it is where we are heading.