As if we need further proof that old media is in trouble and new media is not, just look at these two stories I just read in the Wall Street Journal.
Rueters contracts while Twitter expands. Just another example of how old school, traditional journalism is dying and media platforms featuring user-generated content (UGC) is exploding.
It is obvious that news is no longer the exclusive domain of journalists but now, and probably forever, is in the hands of citizen journalists who post tweets, stories, video, photos, blogs, etc. Self-publishing, whether from a company or an individual, is the new norm.
Is it a good thing for society at large? The jury is still out but what is not in dispute is that the media landscape is forever changed and has been completely disrupted by platforms like Twitter, Facebook, Instagram, Pinterest, LinkedIn and The News Funnel (shameless plug).
It's unfortunately only a matter of time until only a few these major, trusted media outlets are left. Maybe they will reform as non-profits. Maybe other billionaires, like Jeff Bezzos, will underwrite them and not care about making money.
Whatever the future holds, we will no doubt continue to see stories just like these two.