Looking back at 2010âČs ideas on how to save the news
Encouraged to think about whatâs missing in Vox Mediaâs brandsâ coverage, I turned back in time to my Tumblr. I used to do a lot more reading (and vague posting) on journalism and art and economic struggles. I was most drawn to the headlines and writers who were looking optimistically for solutions, even if it came with a pinch of sarcasm.
Six years ago, I was still in my first job out of college, not an analyst, living in Alexandria, maybe I had barely started dancing with Glade?, 24. Twenty-fuckin-four, yâall.
Six years ago, I saw âHow to Save the Newsâ headline. Probably on Tumblr. Letâs take a look six years later.Â
âMost Internet and tech businesses have been either uninterested in or actively condescending toward the struggles of what they view as the pathetic-loser dinosaurs of the traditional media. (What is the Craigslist vision for sustaining the news business? Facebookâs? Microsoftâs?)â
Facebookâs now majorly in the game. I guess Microsoft had MSN? Iâm not sure. Amazonâs founder, maybe in theory totally separately from Amazon but confusingly maybe not really ~synergy~ bought The Washington Post.Â
â... what the news business will have to do to âengageâ readers againâthat is, make them willing to spend time with its printed, online, or on-air products, however much they cost.â
At least five times in this story, James Fallows directly ties âengagementâ to time spent. His consistency and clarity on this is fascinating to me, because over three years as an analyst at The Washington Post, no stakeholder â not advertising sales, not adverting clients, not editors, not social staff â was convinced that time was the best metric here. Did we, as analysts, talk people out of that (see Fast Companyâs bounce rate and time spent assumptions gone wrong)?Â
âWhat was happening to the press, they said, was happening because of huge, historic technological forces rather than because of short-sightedness or backward thinking by publishers, editors, and owners.â
This is a big theme in the story, because it was a big thing Fallows kept hearing, and it didnât match his expected narrative, so he listened. To me personally, six years later, I feel encouraged, self-congratulatory and emboldened that Iâm part of this climate-change-size tidal shift. Thereâs more to come here, and I am a part of it and I want to continue to be a part of it and can help shape it.Â
â[âBundlingâ] kept publishers from having to figure out whether enough people were reading stories from the statehouse or Mexico City to pay the costs of reporters there.â
Breaking news: The largest swaths of Americans are not reading the statehouse content. They read the shitty, entertainmenty stuff. Itâs so depressing that we know this about online content now, but Iâm pretty sure this is not a change in our reading patterns, itâs just that we can measure it now.Â
So there are media organizations now that donât spend money on that statehouse coverage, which has traditionally been regarded as so important for democracies (Hi, I work for one of them now). People (my dad) are worried about the missing Fourth Estate. Right-leaning folks (my dad) think the shift in what headlines they are served online vs. back when âAmerica was greatâ means the government has grown too big and out of control without journalist-watchdogs. Pundits (across AM radio waves, conservative Twitter, and of course cable news) have stepped in to feed that fear monster, but as far as I can tell they havenât spent more resources fixing the system by being better watchdogs. Because, once again, thatâs boring, and no one reads it, and itâs expensive.
I think thereâs a related issue here that this article doesnât address. (In fact, Google executives make the opposite argument that Iâm about to make:Â âSooner or laterâmaybe in two years, certainly in 10âdisplay ads will, per eyeball, be worth more online than they were in print.â Spoiler alert, that didnât happen in two years. It hasnât happened in six. Ten is not looking great from where I sit.)Â
Along with the same tech distribution changes that led to unbundling, came accurate and  fast measurement. More accurate measurement of what users read have brought the click-baiters of the world. More accurate measurement of how advertisements perform have brought down the price of ads.Â
In print and broadcast advertisements (âtop of funnelâ/âbrand awarenessâ in this article), there was no way to accurately analyze whether they were working or not. So advertisers kept paying huge sums for it. As an analyst (and probably as a millennial), I have no idea WHY. I need an economist/marketer/psychologist to help me out here.Â
In digital advertisements, publishers and advertisers can measure their performance. And ugh, just like the numbers of people reading âserious newsâ articles, the results are pretty disheartening. They tell us the opposite story of what we want to hear. So why would advertisers invest more money in stuff that doesnât work that well?! Of course they are going to keep driving the price down.Â
So this is where we are at now:Â
"Schmidt and his colleagues realize that a modernized news business might conceivably produce âenoughâ good content for Googleâs purposes even if no one has fully figured out how to pay for the bureau in Baghdad, or even at the statehouse.â
I am hoping this âgood enoughâ content stage is just one stop on the âdisruptionâ train. This old article (I twenty-fucking-four, yâall) makes me optimistic that it indeed just Wilmington, Del. on Amtrackâs NE Regional to creative, witty, smart, watchdog media (that doesnât repeat its understandable growth-driven, well-measured as successes, actions that led to this huge mistake of an election cycle).
^^ I have too many things trying to happen in that paragraph, but Iâm going to keep it anyway. Yes I am currently riding on the NE Regional from DC to NY. Yes I am upset about our political state right now. Yes I want to keep being an analyst at a media company;.
Here is also where we are right now:Â
âItâs obvious that in five or 10 years, most news will be consumed on an electronic device of some sort. Something that is mobile and personal, with a nice color screen. Imagine an iPod or Kindle smart enough to show you stories that are incremental to a story it showed you yesterday, rather than just repetitive. And it knows who your friends are and what theyâre reading and think is hot. And it has display advertising with lots of nice color, and more personal and targeted, within the limits of creepiness. And it has a GPS and a radio network and knows what is going on around you. If you think about that, you get to an interesting answer very quickly, involving both subscriptions and ads.â
... 2016 Facebook app is 2010 Googleâs vision of the near future of news. Fascinating, right?!Â