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New York Times Weighs in on the "Kids" Who Are Taking Over the Media World
In my last Lowdown post Friday
I had an item about 30-year-old Jay Penske, one
of several young entrepreneurs who are building new
media empires by taking advantage of the historic
destruction the Internet is raining down on traditional
media platforms. David Carr penned a very
interesting article on this subject called "The
Fall and Rise of Media" that appeared
in the New York Times Sunday.
set the stage in his opening paragraph by noting how
things used to be in the media business, writing
"Historically, young women and men who sought to
thrive in publishing made their way to Manhattan.
Once there, they were told, they would work in marginal
jobs for indifferent bosses doing mundane tasks and then
one day, if they did all of that without whimper or
complaint, they would magically be granted access to a
gilded community, the large heaving engine of books,
magazines and newspapers."
that situation with the new media world we are seeing born
before our eyes, Carr wrote this about the young people
who have bypassed the old gatekeepers and built their
own platforms to reach the world: "Their tiny
netbooks and iPhones, which serve as portals to the cloud,
than entire newsrooms possessed just two decades ago.
And they are ginning content from their audiences in the
form of social media or finding ways of making ambient
information more useful. They are jaded in the way youth
requires, but have the confidence that is a gift of
their age as well. For them, New York is not an island
sinking, but one that is rising on a fresh, ferocious
employed by traditional media giants resent this change and
it is hard to blame them after seeing how the shift has
decimated their ranks. Carr characterized the old guard's
predicament by noting, "For those of us who work in
Manhattan media, it means that a life of occasional excess
and prerogative has been replaced by a drum beat of goodbye
speeches with sheet cakes and cheap sparkling wine.
It’s a wan reminder that all reigns are temporary,
that the court of self-appointed media royalty was serving
at the pleasure of an advertising economy that itself was
built on inefficiency and excess. Google
media outlets are slashing
jobs but young writers still have
boundless opportunities online.
Many in Carr's business
have lashed out at the newcomers, but he is not
among them. Carr said the future is "...not
a bad deal if you ignore all the collateral
gore. Young men and women are still coming here to
remake the world, they just won’t be stopping by
the human resources department of Condé Nast
to begin their ascent.
For every kid that I
bump into who is wandering the media industry
looking for an entrance that closed some time ago, I
come across another who is a bundle of ideas, energy
and technological mastery. The next wave is not just
knocking on doors, but seeking to knock them down."
mentioned the role that a company in our industry that you
are all familiar with, Demand
Media, is playing in the new scheme of things.
He underscored how hard it is for old media to compete
against the economic advantages that the web
enjoys. Noting that big city writers were once paid as much
as $4 a word Carr observed "Demand Media now
tests headlines for reader salience and cranks out thousandsof articles and videosdaily that it pays
about $20 apiece for."
so, Carr believes there will always be a market for quality
so even though the delivery mechanism is changing,
some familiar brands (like the Times) are
not likely to disappear entirely. "Certain stalwart
brands will survive and even thrive because of a
new scarcity of quality content for niche audiences
that demand more than generic information," Carr
wrote. As I wrote in my post Friday, that is exactly how I
think things will play out as well. His is a very
insightful article, so if you are one of the many domain
developers who run or are planning to build media sites,
be sure to check out Carr's entire piece here.
One other note today,
domain monetization pioneer DomainSponsor
has announced that they are opening a European
operation with Joerg Schnermann serving as
General Manager of DomainSponsor
was previously Chief Operating Officer at KeywordDomains.com.
Joe Higgins and Jessica Bessling are
joining the team in Europe at an office located in
Frankfurt, Germany. Joerg, Jessica and Joe
will be working directly with local publishers to
improve and optimize the DomainSponsor platform,
and will be hiring and training a local team for
the formal launch of the European business in the
first quarter of 2010.
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