Warren Kinsella’s prediction #6 for 2007;
Bloggers will continue to believe they are supplanting the mainstream media, when – in fact – the data will show that the growth and influence of blogs is waning;
Alan D. Mutter, “veteran media executive”;
Vaporized: $13.5B in news stock value
In a dramatic repudiation of newspapers by investors, the shares of publicly held publishing stocks in the last two years lost nearly $13.5 billion in value, or 20.5% of their market capitalization.
To put this in perspective, the vaporized value is greater than the enterprise value of the Tribune Co. or the combined value of the McClatchy, New York Times and Media General publishing companies.
The vertiginous drop came at the same time the Dow Jones industrial average soared to an all-time high and other market indicators gained by healthy double-digit percentages.
[…]
The sell-off has been prompted by declining readership, falling revenues and rising concern over the industry’s ability to respond effectively to competition from the new media. As Goldman Sachs recently noted, 2006 likely was the first “non-recession year” in history in which newspaper revenues declined.
More here – “Although investors forced management to sell Knight Ridder in the interests of improving shareholder value, the transaction has resulted in precisely the opposite outcome.”
Set aside the fact that I don’t actually know of any bloggers who either aspire to or believe we are “supplanting the mainstream media” – if current trends continue, the question may be moot. We could end up having to.
(Providing they aren’t taken by force.)
h/t Jeff Jarvis.
Ohhh Warren
You seem to have missed the wave.
The internet and bloggers in particular are not attempting to supplant the MSM. What bloggers are supplanting is smarmy, smug, superior strategists (I just got to the chapter on alliterations).
That said, there are much more cognisant lib bloggers than WK. CG or Ceberus come to mind.
On the other hand there are also the likes of Cherniak and McLelland. I read both of these “sources” just to see what’s going on at the precipice. I have a decided preference for dark humor.
As an aside:
Ted.
That’s the point. Folks are formulating their opinions from many sources. The fact checking ability borne in this information revolution (just as significant as the industrial evolution or so I’ve been told) is what makes the internet powerfull.
In this vein I have seen some excellent journalism on the net. AGWN and Stephen Taylor seem to have exposed a few truths. Or at the very least the accused didn’t have the nuts to challenge them. Nuff said.
Steve @ 11:49 makes a point. In rebuttal. Word of Mouth….the Moccasin Telegraph….The peons, surfs, stooges, and dipshits now have a voice.
And that’s what really wrankles WK…the unwashed are getting uppity.
At least he’s still an authority on punk.
Syncro
P.S. The internut also allows the ability to compare and contrast. Those of you who figure this is an echo chamber for whingers might want to re-read what Enough, Shaken, TG, Justzumgai, Irwin Daisy and many others have had to say here.
Now go to Myblagh, Rabble or the Kos and check out the discourse.
You decide.
Syncro
wornout kantsellit
Well, I think Warren Kinsella takes writing more seriously than anything else professionally. I sure as hell don’t agree with him, but if yer going to waste timing reading blogs, you might as well be somewhat interesting and coherent.
SmallPettyIdiots. So ideologically impaired, and historically simple. And really I only come here to this blog not for enjoyment or enlightenment (lol), but because I like to know what psycho right-wing militias are going to firebomb next.
“I think Warren Kinsella takes writing more seriously than anything else professionally”
That sir, is what we call “damned by faint praise”.
I wonder why kantsellit is using “Gawd you people” instead of his real name?
My name is Aimee, not Warren. Thanks though, FREE. Who I am guessing is who? Levant? Steyn?
“And really I only come here to this blog not for enjoyment or enlightenment (lol)”
I think it would be hard to “enlighten” an idiot of your magnitude.(lol)
Free; because he can’t spell God.
I see that this has become a Warren Kinsella hate-a-thon for conservatives with “important points of view”, (so I’d better provide some balance).
And this despite the fact that he has so much in common with conservatives – his columns for the laughably turgid National Post, his constant plugs for the Alberta “that formed him”, his obvious affection for Steve, his strongly-held RC beliefs, his Fundamentalist “Israel/Holy Land right or wrong” position, his apparent support for capital punishment, hockey, Canadian beer and the sanctity of marriage.
Other than the National Post thing, these are all noble positions, and reflect the best of conservative values.
What conservative’s cant abide about Kinsella though, is that he holds opposing views … and dammit, he seems to be having such a good time! Conservatives know that no “serious minded person” does either of these things. After all, things are black-and white, with us or agin us, and heaven forbid that one should be outspokenly supportive of harmless fun.
Kinsella is a social conservative who’s positions on issues he allows to be modified by the more important principles of social conscience. In other words, he’s what we call a liberal.
Absolutely puerile. And I’m not refering to Kinsella.
What is this main-stream media?
Isn’t it really the long-standing media?
They have been there so long they feel it is their right to be there forever.
Sounds like new ideas and new technologies are taking them over and they are not able to see it.