News going hyperlocal or hyperglobal? 9/18/08Posted by Steve Boriss in Uncategorized.
Should the metro newspaper industry survive, which at this point is looking increasingly doubtful, it might only be because of its unique ability to create original content that directly affects our lives.
But the media industry is going the other way, toward global brands. In the Hollywood Reporter in regards to video, Times Warner chair Jeffrey Bewkes said, “I remember the old 80-20 rule, where 80 per cent of the money was coming from 20 per cent of the activity. Well, now it’s going to be more like 90-10, where more of the money is going to an ever more world accessible giant brands and hits.” Translating that to the news sector, if 90% of our news stories will be global stories, is it that we are no longer most interested in news that most directly affects our lives? More likely, it is that global stories are now seen as directly affecting our lives. Not a good sign for a hyperlocal news future.