1. The Internet and Converging Media Journalism Principles and Practices

2. What We Will Do in Two Concluding Lectures ● Look at some underlying assumptions that may be moving us off track ● Examine some emerging economic and editorial models (realizing some overlap) ● Look at a couple missing pieces ● Examine why the issue is so critical...for reasons we sometimes don’t consider ● Offer at least one suggestion for solving the problem I’ve cited

3. First, Let’s Examine Some Assumptions... Assumption 1: Internet killed news news because people can get it for free ●No question partially true -- Hourglass ●Newspapers seen revenue drop 50 percent in 3 years ●TV down by about 25 percent ●Newsmagazines Time and Newsweek cut half their staff since mid 80s ●Newspapers earned only about $3.1 billion from online ads in previous year, compared to $37 billion from traditional advertising

4. But There are Other Reasons for Problems in the News Industry ●Classified lost not to news but to Google -- which makes 80 percent of income off searches ●News organizations did plenty of damage to themselves by massive debt ●Slow to react and often focused on the trivial -- comment boxes ●Collapse of economy didn’t help, but not entirely to blame ●And big one relates to bottled water, get to at end

5. Assumption #2: People get their news from new media, fragmented media -- so old media are irrelevant ●Pew Center analysis of over a million blogs found that 80 percent t information came directly from “legacy media” ●Only 14 percent of top news sites produce largely original news ●80 percent of web traffic to news sites goes to 7 providers -- CNN, NYT, Yahoo News, MSN among them -- and if you look at Yahoo News, basically aggregation of AP, AFP, Reuters, Bloomberg

6. Assumption #3: This has never happened before so it’s a Zombie Apocalypse ● Read AOL’s new master plan -- optimize for search engine. Is this the zombie Apocalypse? The same thing happened before Civil War ● The transatlantic cable, message from Queen Victoria to President Buchanan, caused riot, disrupted the business of the Rothschilds, who used private messengers, and even prompted best-selling novel of the year, “Wired Love” ● Remember how home video was going to wipe out movie theaters? The opposite happened ● Recorded music was going to put musicians out of work ● Radio would be the end of recorded music

7. Assumption #4: There’s one big thing that is going to change everything ●It took centuries for printing press to make its effect realized ●It took pretty much a whole century for technology and society to create modern newspaper industry. ●Media needed a monetary base -- cash economy, gave birth to classified ads as people move from working at home to cities

8. Assumption #4 Continued ●Took a decade or so for radio to establish itself as an advertising medium -- toothpaste ●Took longer to overcome eleemosynary -- economic model ●And for all those trying to invent the next big thing, it often goes in its own direction… o Edison o Bell o And in fact Sarnoff

9. Conclusion Just because we don’t know the answer doesn’t mean there isn’t one, and we’re in good company