Yesterday we published a piece by our contributor Kevin Anderson titled ‘The collapse of the attention economy’. Its central tenet is that an overabundance of content to which we all have access has led to an unsustainable environment in which scale is all and practically impossible to achieve.
As a result, the valuations of publishers has become uncoupled from actual performance and we’re all flailing around to find an accurate measure of success (that doesn’t make us look bad in comparison with our competitors).
Based on the response to the article, it’s fair to say it hit a nerve. There’s nothing that quite inflames the imagination of media analysts like the suggestion all the great ‘success’ stories of the past few years have actually been nothing of the sort, and that the billions spent in VC funding have been a bad bet. So are publishers right to be so scared?
Typically the news media and organised religions tend not to have much in common beyond the accusations of being cult-like that typically get thrown at those who work there. But Pew Research has found something they share – though it’s not something they’ll be especially happy about:
“Millennials’ views of the national news media also have grown more negative. In 2010, four-in-ten Millennials said the national news media was having a positive impact on the way things were going in the country, a far more positive view than among older generations (just 27% of Silents and Baby Boomers and 29% of Generation Xers said this).
“But now, Millennials’ evaluations of the news media have grown more critical and are currently on par with older generations: Just 27% now say it has a positive impact, compared with 26% of Xers and Silents and 23% of Boomers.”
Twitter Invests in Headphone Maker Muzik—but Why? – via Fortune
Newsquest’s remote subbing hubs condemned as failure – via Press Gazette