Notes on Information as a Commodity

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News as it exists right now is largely a business. It is actually called the news business. That term is quite disheartening. The above reproach fourth estate is actually under the control of capitalism. It must succumb to economic pressures in order to function. Under capitalism something is only useful if it is seen to have value. It must be productive (Graham, 2000). News content gets its value from its ability to deliver eyeballs to advertisers or from an audience’s willingness or ability to pay for access. This, of course, assumes that an audience has the means to access or pay for the content. Content for marginalized groups such as the homeless would not have value under this model. The homeless would not provide the right audience for an advertiser and they do not have the ability to pay. In looking at new media, the homeless generally do not have access. Nothing has intrinsic value in capitalism. Something must be perceived to have value.

The value of content is a huge problem for journalists especially in new media. Pay to play news content has largely failed in the new media environment. And advertising streams are very dependent on eyeballs. If the content doesn’t get enough eyeballs then it is not valuable. Crick (2009) studied the Dewey/Lippmann debate over the creation of content to propose more publicly funded content. The idea is to take capitalism out of the equation. Unfortunately, the news organizations would likely still have to pander to politicians. We are seeing this play-out right now in NPR’s firing of Juan Williams. There are now those on the right calling for NPR to be defunded (FoxNews.com, 2010).

If the advertising model is going to be the only solution new media journalists must find a way to add more value to the product. This is difficult in an arena where information is disseminated by a variety of sources. Information is taken from the original website and distributed all over the web. Moore (2010) proposes that metadata should be added to news stories to allow content creators to track and cash in on their material. Some news organizations are already experimenting with this approach (Moore, 2010). Gahran (2010) argues that information should be structured to provide better links for the audience. These links will drive the audience to the news organizations web site (Gahran, 2010). These solutions still view information as deriving its value extrinsically.

If these efforts to make the information more accessible and better audience drivers are to work then newsroom management must change the way it operates. These new approaches require journalists to be receive new training and have the ability to experiment. Converged newsrooms are currently a work in progress and there aren’t any foolproof methods to make this work. What is known is that business as usual in newsrooms will not work in this new media environment (Fisher, 2009).

References

Crick, N. (2009). The search for a purveyor of news: The Dewey/Lippmann debate in an Internet Age. Critical Studies in Media Communication, 26(5), 480-497. doi: 10.1080/15295030903325321

Fisher, H. A. (2009). Developing media managers for convergence: A study of management theory and practice for managers of converged newsrooms. In A. E. Grant & J. Wilkinson (Eds.), Understanding media convergence : the state of the field (pp. 135-150). New York: Oxford University Press.

FoxNews.com. (2010). NPR Fires Juan Williams; Fox News Expands His Role Retrieved October 29, 2010, from http://www.foxnews.com/politics/2010/10/21/npr-fires-juan-williams-oreilly-appearance/

Gahran, A. (2010). Structured news: Make useful connections to build your news business Retrieved October 29, 2010, from http://www.knightdigitalmediacenter.org/leadership_blog/comments/20100819_structured_news_make_useful_connections_to_build_your_news_busines/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+KnightDigitalMediaCenter+Knight+Digital+Media+Center&utm_content=Google+Reader#When:22:32:34Z

Graham, P. (2000). Hypercapitalism: A political economy of informational idealism. New Media & Society, 2(2), 131-156.

Moore, M. (2010). How metadata can eliminate the need for pay walls Retrieved October 29, 2010, from http://www.pbs.org/mediashift/2010/08/how-metadata-can-eliminate-the-need-for-pay-walls230.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+pbs%2Fmediashift-blog+%28mediashift-blog%29&utm_content=Google+Reader

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