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Sambhar Mafia - Cooked To Kill!

Friday, November 04, 2005

Blogosphere lacks money

A summit in New York City has brought MSM and Blogosphere together. MSM and Blogosphere will try and identify ways of working together. The author of this ABC News article is also one of the participants of this summit. He says that Blogosphere lacks money and MSM is losing legitimacy at a rapid rate.

The MSM has the money and the infrastructure. Over the centuries, it has perfected the art of converting print into dollars. But the MSM is also in trouble, losing both customers and legitimacy at a shocking rate. The recent circulation scandals among the nation's leading newspapers, the Dan Rather/"60 Minutes" fiasco, and now the astonishing self-destruction of The New York Times, show just how desperate and troubled the MSM has become.

What the MSM lacks, the blogosphere has in spades: energy, momentum, and a growing audience. But what bloggers lack is money — bloggers have yet to find an efficient way to turn their hard work into revenue … and until they do, blogging will always be a lonely sidelight, vulnerable to dying with the next missed mortgage check.

Natural antagonists, the mainstream media and the blogosphere now need to find a way to work together — or both the news and publishing professions will find themselves in an even worse crisis than they are in now, and all of us will be the worse for it. That's why this summit is over-subscribed, and last minute sign-ups were still taking place even as I got on the plane yesterday.

6 Comments:

  • I was wondering....What is MSM????
    http://en.wikipedia.org/wiki/MSM

    Its the 4th explanation(Mainstream media)on that wiki page!Not the second one!!!
    -Raapi

    p.s:Word verification sucks..8 character random letters some of which don't even look like an english alphabet!

    By Blogger rajesh, at 10:23 PM  

  • Kaps, Belated Diwali Greetings. Congratulations on your two second fame... hope it lasts longer.

    MSM has started embracing blogging in a big way. Houston Chronicle had a blog started during Hurrican Rita. Its contributors were its readers only.
    Washington Post has a blog that is hugely popular.

    By Blogger Venky Krishnamoorthy, at 12:06 PM  

  • Getting money out of the Blogs.. Thats somethng every entrepreneur worth his salt is putting his/her minds on now... The desipundit concept, if it works like a rss feed, more links to latest updates... could attract a lot more readers... google adsense is a good way...

    By Blogger anthony, at 1:06 PM  

  • The minute the blogosphere starts raking in the money and making money becomes its objective, it'll go the MSM way. There is a reason the MSM has loads of money but no credibility and reverse is true of the blogosphere.

    By Blogger Sujatha, at 1:28 PM  

  • The death of MSM is a highly over-rated meme that is being spread by people who aren't part of the MSM but would love to be. Consider this, most of the news bloggers showcase is got from MSM. And the discussions that take place are a natural corrolary of human being interacting. What happens after MSM breaks a story doesn't make blogs vibrant, energetic and the next big thing. MSM will always be the big thing. Blogs will, soon, be co-opted by them Blogs will become the new MSM. and you heard it here. Thank fucking you. :-)

    By Blogger Übermaniam, at 2:31 PM  

  • @Rajesh,
    Sorry for using acronyms....will be more precise from now on

    @Venky,
    thanks for the pointers.....will check out those MSM Blogs

    @Anthony,
    In the indian context, we are still a long way before which blogs can make money. if they start looking for money they might have to compromise on some of their principles.

    @Sujatha,
    I agree with u on this. I have already heard stories where bloggers take money to write something to influence their readers

    @The Daily Unusual,
    Since Bloggers don't have their feet on the ground, they need to source content from MSM. However the alertness of the Blogosphere ensures that the MSM is more careful in its reporting. MSM will never die....but they will need to reinvent themselves to tackle the onslaught of bloggers.

    By Blogger Kaps, at 4:48 PM  

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