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Business Insider CEO Says Today's 'Golden Age' for Journalism Is Also Good for Advertisers

New Yorker writer Ken Auletta is more measured

Ken Auletta Photo: Mike Coppola

Henry Blodget is more than optimistic about the current state of the media industry. In fact, the Business Insider CEO and editor in chief believes the rise of digital media has created a "golden age" for journalism.

"What is happening now is wonderful for journalism and the world," Blodget said Monday at the IAB MIXX conference in New York. "The world is vastly better informed than it ever has been in history."

Blodget outlined his theory in a lengthy post last month, and today he summed it up in a nutshell: not only are traditional media actually in decent shape, new platforms such as YouTube, social media and blogs have enabled the sharing of more information.

Advertisers, too, have more options and flexibility than ever, Blodget added, arguing that marketers can still pursue newspapers and TV as well as new digital upstarts to find the audiences they're looking for.

Sounds pretty rosy, doesn't it? Ken Auletta, a longtime staff writer for the New Yorker, said he agrees with Blodget's sentiment—but only to a point. Sure, digital media has democratized information, but "the business model is still very much challenged," he said. And there are a lot of unanswered questions as to how mobile will make money, he added.

Asked whether he expects to be happy or sad about the state of journalism 10 years from now, Auletta said: "I hope I'm happy, but I'm not an evangelist like my friend over here."

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