Open Source Media Launch

I've just listened in and Claudia Rosett, "formerly" of the Wall Street Journal has agreed that the New York Times online is just an online blog, "with one difference, they get paid for it". This is something I hear so much from 'old media' sources and it cracks me up. They don't really 'get paid' for anything. They are one of many venues for advertising. Advertising placed in the newsprint edition supplies some of the money for wages. Other companies in the group also supply money for wages, especially if you write for the Guardian.

In the old days advertising was placed where the desired target market could be found. Now that the blog world has supplied an alternative to 'old media' and numerous exposes of the bias and fraudulent reporting of news stories, some of the most valuable target audiences are to be found elsewhere. This trend will continue, along with declining circulation, until 'old media' figures out that anything other than objective and truthful reporting is bad for business.

If you want to listen to the launch party, click here.