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April 04 2013

20:31

Draper Fishers VC Joy Marcus Charts Disruption in Online Video

“The consumer experience in online video right now is not perfect, and I think that there is a lot of potential for disruption,” says Joy Marcus, Partner at DJF Gotham Ventures.  At the Beet.TV executive retreat in February, we had the opportunity to sit down with Marcus and learn more about which areas of the online video arena she thinks are most ripe for disruption.

Marcus says that there is a lot of potential for “disruptive companies that can come in and make the user experience a lot better, particularly in the area of discovery of video.”  Currently YouTube is the leader in video disruption, but Marcus explains that YouTube “does not really lead the user to what they want if they don’t know what they want already.”  Therefore, she says, there’s big potential for recommendations.

In the video interview, Marcus also talks about issues around access to online video, as well as issues around usability—both areas where she says online video still needs help.

Megan O’Neill

April 26 2012

13:12

How 'Screenularity' Will Destroy Television as We Know It

Yesterday I announced the next project I'm going to work on which will focus on mobile news consumption. As a result, I've been thinking a lot about screens.

In the future, consumers will not make a distinction between their television, phone or computer screens. The only difference will be the size of each screen, its placement and, therefore, what you most likely do with it. 

iphone sky.jpg

But one will not call the handheld-sized screen their "mobile phone." That you might use it to make phone calls will be happenstance. You will just as easily make a call on the 15-inch screen at your desk or the 40-inch screen in the living room.

Let's call this future moment the "Screenularity." It is the moment in the future when, as a consumer, there's no distinction in functionality between the various screens we interact with. Much like Matt Thompson's "Speakularity," this will be a watershed moment for how we consume information and, therefore, journalism.

THE DEATH KNELL OF TELEVISION

For the entire television industry as we know it, this will be a back-breaking moment. It's not a question of "if" but "when." We see early signs of it in Netflix and Hulu, but the cracks in the dam haven't even started to show. For national broadcast journalism organizations like CNN, Fox and MSNBC, it will create a lot of disruption. For local broadcast journalism, it will leave them utterly decimated. 

Local broadcast journalism simply has no added value when compared with the wealth of information on the Internet. They rely on personality-less hosts that talk at you (not with you). Combine this with high overhead to do local reporting about topics many people simply don't care about, and you can start to see how this looks bleak for local broadcast affiliates. Breaking news is broken. Local broadcast websites are offensively bad and nowhere near competing on the open web. Their continued existence relies on the fact that the majority of people still get their news from television. But once the Screenularity hits, that will no longer be the case. There won't be a "television" just various screens. People will get their "lean back" information from the same screen they can engage with. Dogs and cats living together ... mass hysteria!

THEY'RE NOT HAVING THIS CONVERSATION

Whether you love or hate the "future of news" crowd, we should admit that it's painfully devoid of broadcast journalism. I am not 100 percent sure why. I've heard Jay Rosen give a decent explanation, and it can be summarized as: "They just don't care, it's not in their interest."

I'm not saying there aren't any folks within broadcast who are forward-thinking. But considering the disproportionate size of their organizations/budgets/audience to more traditional print mediums, they are painfully absent from conversations about the future of the industry. From what I can observe, the television journalism world has no interest in the future-of-news conversation, and their websites speak louder about this than any defense they could possibly make. This is dangerous, because the majority of people still get their news from local broadcast networks. There is no plan b. There is no fallout shelter.

A DANGEROUS IDEA

For this month's Carnival of Journalism the question is: "What's a dangerous idea to save journalism." Mine is the Screenularity. Local broadcast outfits need to operate as if it's here. I recognize this is dangerous, because it assumes that an industry will disrupt itself. That inherently means there will be danger involved. People will lose their jobs. Organizations will falter and crumble. But others will come out the other end and reinvent an industry on their own terms.

Media companies must become technology companies so they can create the platforms that define the type of media they produce. If they're the ones who create the platforms, they will continue to create media on their own terms.

If local news broadcasters don't embrace the Screenularity and create the platforms themselves, they'd better hope that somebody else does it for them. And "hope" is a horrible strategy. That's what leads to complaints about "Google" or "Craigslist" killing journalism. All they did was create platforms that define the type of media produced. If you aren't creating those platforms then you have no excuse to complain about the terms those organizations create.

April 21 2012

14:29

December 07 2009

18:55

Why Young Journalists in Big Newsrooms Are Risk Averse

I'm going to tell you a secret about my newsroom.

The 20-somethings there are indeed fast to pick up new technology such as social networking, RSS and the use of Flip cameras. They are also wonderful colleagues, as well as dedicated and intensely engaged journalists. Of course, that's not the secret. What is surprising is that our youngest colleagues are by no means revolutionaries. They're not the ones looking to adopt or push disruptive innovations or invent new formats. That's largely done by people who are well into their 30s or older.

Opportunity Cost

This has puzzled and, I admit, occasionally irritated me. Fortunately, I gained some insight into this issue a few weeks ago while attending the Metanomics show in Second Life. It is hosted by professor Robert Bloomfield and he interviewed blogger, author and economics Professor Tyler Cowen.

Both men are media innovators. At the end of the show, Bloomfield talked about exploration, and he outlined the concept of "opportunity cost," which refers to the cost of the alternatives you aren't pursuing. Here's a bit of what he said:

Rough economic times like these are excellent for exploration. Some of you are unemployed. More of you are probably underemployed. It may sound counter-intuitive, but now is a time for exploration, because your opportunity costs are low.

There is a second meaning to the age of exploration. The very young -- by which I mean the 20-somethings -- are filled with energy, ambition and creativity. But exploration is very expensive for them, because they get so much value from the pursuit of traditional credentials, like degrees from George Mason or Cornell. But if you are listening to this, you are probably in the 35 to 60 range. Many of you could be devoting far more of your time exploring new opportunities -- again, the opportunity costs are lower for you.

I think the concept of opportunity cost can help explain why the young journalists in our newsroom seem to be more risk adverse. Contrast this reality with the persona of the young Internet entrepreneur today. They are celebrated for upending convention. Either they succeed and are applauded, or they fail, which is considered normal in the world of entrepreneurs and startups.

But the 20-somethings entering the newsroom of established media organizations seem to be a different breed. They are also entering a very different workplace environment than the one faced by young entrepreneurs. Within a large newsroom, the expectation and requirement is that young journalists work to acquire the skills and emulate the behaviors displayed by the older leaders within that environment. They are required to integrate, rather than upend convention.

If young journalists choose to revolt against convention, they will likely be rejected by the group. This means isolation within the workplace, or outright dismissal. Pushing the limits of the organization can result in a very real cost for younger journalists. It's high risk, with potentially few rewards.

Common Good

Professor Bloomfield also spoke of another concept that relates to this issue: social good. Here's what he said:

Finally, let me emphasize that exploration is a delight and a privilege that not everyone can pursue...but it is also your duty. Exploration is a social good. Explore to the extent your opportunity costs allow. We're counting on you to help pull us out of troubled times, and give us new ways when we get to the other side.

This means that older generations in the newsroom -- those of us who have been professional journalists for quite some time and have less to lose -- have a special responsibility. We have to explore, to innovate, to take risks. This is beneficial for society, and also for the 20-somethings who want to join us in exploration, but can be hamstrung by existing conventions.

*****

What about your experience? Does the "opportunity cost" theory make sense when it comes to your newsroom or media company? Share your thoughts in the comments below.

Roland Legrand is in charge of Internet and new media at Mediafin, the publisher of leading Belgian business newspapers De Tijd and L'Echo. He studied applied economics and philosophy. After a brief teaching experience, he became a financial journalist working for the Belgian wire service Belga and subsequently for Mediafin. He works in Brussels, and lives in Antwerp with his wife Liesbeth.

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