We have seen over the past couple of years the decline of the newspaper industry. The internet has made information easily available and quickly decreased the need for a paper. We have seen the death of many newspapers and over 15,000 jobs have been lost due to the downsizing of our newspapers. The overall newsroom workforce has declined about 11%. Although it is sad to see this sudden change in the news market I believe we are seeing a shift that presents a huge opportunity for business.
The shift is from news media being the provider of information to the experts in the field becoming accessible. The shift is from writers working for large newspapers to working for businesses creating content. We are seeing our industry thought leaders now providing us with the information straight from the source. If I want to find out the latest information about a specific topic I can now use social media and find that information on Twitter, Facebook, LinkedIn, or YouTube.
So what does this shift mean? It means that rather than industry experts spending money on advertising in the business sections of their local paper, they are either are spending that time or money on developing the content themselves. They are becoming the provider of content because the shift has removed the middle man and now has us looking right at the experts for the answers. The proof is in the pudding. My wife watches dateline and tweets with Josh Makiewicz (@JoshMankiewicz). We follow stars on twitter but we also follow businesses who we see as leaders in the industry we are interested in. Our television is reporting on trending topics on twitter. People open up facebook in the morning with coffee rather than their newspaper.
What does this mean for business? So the shift has just begun and you have a major opportunity here. Whether you are a small, medium, or large business your have the ability to lead in your industry by providing content and building trust and engaging with the readers. Now only if I was a good writer. :)