With the continuing shift of content from offline to online, traditional media companies are being forced to rapidly adapt. While the best online business model for media has yet to be determined, traditional media companies are racing to forge partnerships and make acquisitions and investments that position themselves ahead of the rest.
Just today, two big announcements were made that highlight the continuation of this trend. The first announcement was that The Washington Post will begin using Predictify for stories. The tool will enable readers to vote on possible outcomes of stories. While not a revolutionary tool, the shift from one-way media to two way is an important component of this announcement.
This also highlights the difference between traditional media and social media. As Robert Scoble highlighted this past weekend, participation is a critical component of the new form of media. While traditional media outlets will still have to verify their sources, the process of generating the entire story could soon involve the readers.
Not only are the readers participating but they are also becoming part of the media. This is highlighted by today’s news announcement that Gannett has invested $10 million in Mogulus, a live-streaming video service. I’ve previously taken a look at Mogulus and I was thoroughly impressed. The best part about the tool is that you can have a 24-hour channel which includes previous media that you’ve shot as well as live-streaming media.
The Mogulus tool is the most robust one that I’ve seen to date and taken to the next level I honestly think Mogulus could be revolutionary. When I previously took a look at Mogulus, I thought that it would spell the end of public access television. Anybody can now have their own custom-branded channel with custom content. You can also pre-program your channel making it easy to have content playing while you are away.
Over the coming months I would guess that we will see many more announcements highlighting the clash of old and new media. Do you agree that these announcements are particularly significant?