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New Business Model for Journalism in Sharing Economy
- 1. All the NewsThat's Fit to Pay For: Future of Journalism in the Sharing Economy Eric Ortiz l USC Annenberg l COMM 208 l April 8, 2015
- 2. Everyone has astory to tell.
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- 8. You could tella story.
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- 12. Way things workedpre-Internet.
- 13. Life in themiddle is unsustainable for most legacy media organizations.
- 14. This is stateof our world.
- 15. Changing the worldstarts on Main Street.
- 16. Local news trafficis rounding error. • Circulation/ad revenue shrinking. • Papers can't make up difference digitally. • News sites attract 3 percent of all Web traffic – 85 percent for national news site, 15 percent for local news • Local news gets .5 percent of overall Web traffic. • Average local newspaper gets 5 minutes per month per Web user. Source: Matthew Hindman
- 17. Two big questions. 1.How can local news organizations make news stickier? 2. How can local news attract national audience?
- 18. Ways to makelocal news sticky. • Improve technical experience of local news sites - - speed up load times and optimize for mobile. • Improve content recommendation systems. • Publish one piece of content every hour. • Do A/B testing, create content for social media, produce more videos and multimedia content. • Empower community members to be storytellers.
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- 20. Start with mobileeconomics.
- 21. By the numbers •2 billion people in world have smartphones • More than half of people with smartphones post original photos and videos online • By 2020, 5 billion people in world will have smartphones • 99.5 of consumers use mobile devices to access content/information • Smartphone ownership is higher for Hispanic adults (61 percent) African-American adults (59 percent) than white adults (53 percent) • 75 percent of consumers use smartphones to watch video online
- 22. Mobile exceeds PCInternet usage.
- 23. What can smartphonesdo? • Text • Take pictures • Shoot video • Record audio • Detail location • Detect infared light • Read data • Make money • Turn into microscope • Perform car diagnostics • Connect to USB stick or mouse • Measure distances • Measure altitude and air pressure • Get temperature • Detect fever
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- 26. What is crowdsourcing? •Using crowd as a source – Ferguson, Boston Marathon Bombings, MLB playoffs, in-class live blog. • Participatory journalism – Collaborative storytelling, many contributors, World Cup, ISIS, Ebola, Barack Obama speech. • Sharing economy – Uber business model, digital currency, utilitarian, practical, helpful, Crowdopolis. • Community newsrooms -- Professional guides training people in neighborhoods to be mobile storytellers. • Storytellers -- Document every story that matters. They all matter. Rashomon effect, 360-degree, interactive narratives. • Platforms, multimedia, network effect – Need people to use something for it to be popular
- 27. See life asit happens. • Periscope • Meerkat • Hang With • Field59
- 28. Cover complex newsin real time. • Arab Spring • Boston Marathon Bombing • Ferguson • Ebola • Ottawa shooting
- 29. Collaborate to coversame story.
- 30. Go to remotelocations.
- 31. 360 Degrees Livefrom Hong Kong
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- 35. Anyone Can Bea Reporter.
- 36. Tell interactive stories. Withease and speed.
- 37. Deliver context andcoherence.
- 38. Master the 3C’s Content. Context. Continuous.
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- 40. Mobile reporting tools •Twitter: Microblogging • Instagram: Photo sharing • Vine: Six-second vido • Tout: Social video • Videolicious: Quick, easy video editing • audioBoom: Audio sharing • Ustream: Live stream video • iMovie: Edit video • Seene Review: 3D images • WhatsApp: Group messaging • Pinterest: Curated visual content • SoundCloud: Upload, record, promote, share audio
- 41. More mobile reportingtools • Facebook: Social network • Skyro: Record, play, share audio content • DropVox: Record voice memos to Dropbox • Evernote: Notebook. Save photos, audio files, weblinks • Banjo: Social discovery • Emergency Radio Free: Police scanner • Expense Magic: Document expenses, send PDFs via email • CamScanner: Take photos of document, convert into PDF • Storehouse: Combine photos, videos, words to tell story • Photosynth: Panorama photo • Portable charge: Jackery, Anker, Lumsing
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- 43. U.S. newspaper adrevenue: $63.5B in 2000, $23B in 2014 Google ad revenue: $70M in 2001, $50.6B in 2013 Billion dollar opportunity
- 44. Stories we cantell with smartphones • Breaking news • Conflict zones • Geopolitics • Protests • Government • Local business • Metro coverage • Sporting events • Red carpets • Trading floors • Man on the street • Live streams • Profiles • Features
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- 46. What’s next? • All-in-oneapps: Evrybit • Virtual/augmented reality: Junaio • Wearable devices: Apple watch • Unmanned video: Drones • Digital/mobile currency: Apple Pay, Bitcoin • Sensors: iBeacon
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- 48. News business needsnew business models.
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- 52. Provide best userexperience for journalism.
- 53. Can iTunes fornews model work?
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- 57. Let users paywhat they want.
- 58. Consider all typesof currency.
- 59. Embrace retail revolution. Mobileproximity payments in U.S. will exceed $189 billion in 2018, a compound annual growth rate of 153 percent from 2013. Source: Business Insider
- 60. Gather data onaudience.
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- 62. Follow Uber modelfor news.
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- 64. Partner with newsorganizations.
- 65. Create virtual storyboard for people to post story requests.
- 66. Story requesters setprice.
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- 69. Facilitate native advertising formom and pop shops.
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- 71. Share the wealth. •Split ad revenue. • Tip jar. • Freemium model. • Incentivize people to create high-value content.
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- 73. Create virtuous cycle. Quality content Informed citizens Hightraffic Generate revenue Strengthen community
- 74. Build global networkof local news bureaus staffed by locals.
- 75. Say hello tonew CNN. Crowdsourced News Network.
- 76. Road to newCNN. 1. Train community storytellers. 2. Establish strategic media partnerships. 3. Create virtual story board. 4. Use mobile-first platforms to generate high-quality content. 6. Integrate native advertising into workflow. 7. Gain trust of community members and local businessess. 8. Reward content creators. 9. Pump money back into community. 10. Repeat in communities around the world. 11. Build network of trusted sources.
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- 80. Contact Eric Ortiz Email: [email protected] Phone:860-751-9771 Twitter: @erictortiz, @evrybit Web: getevrybit.com Blog: getevrybit.com/blog
Editor's Notes
- #37Â Filmed with GoPro and iPhone, and edited and produced the multimedia using Storehouse app on iPad.