Interesting piece from Jim Spanfeller, the CEO of forbes.com on paidContent. Some quotes:
But I firmly believe that in the future we will need more professional journalists than we have today and they will be as valued—or perhaps even more highly valued—than they were 10 years ago.
Will these professionals work for the same institutions that they work for now? More likely no then yes. Certainly some of our current journalistic enterprises will survive and thrive but only the ones that make the transition to a “now economy” that demands “entwined content,” or stories told in prose, video and data all at the same time. The majority of the current kings of content don’t understand these changes or perhaps they do but feel helpless to respond to them.
But the idea of a “scoop” having great value is gone. In an internet-enabled world, a scoop lasts for only a very fleeting period of time. The real value is the insight about that scoop. And because the web is multimedia, video will be extremely important too.
The world has changed, yes, but at the end of the day, people are still, well, people. They still have a need to know what is going on around them and how it may affect them. We have the tools to meet these needs, but unfortunately most of the legacy distributors of news have not been able to use them. Either they are too overwhelmed by the destruction of their current models or they are too leveraged with debt—or, in some cases, both— to see the opportunities within all the change.