Are media corporations doomed?

January 21, 2009

Well according to this post, the time is coming. And we can thank digital media for it.

A great post from the NUJ Left, commenting on a speech by one of the world’s most prominent media theorists Douglas Rushkoff, Professor of Communications at NYU, highlighting that with the reversal of consumers now becoming producers thanks to the growth of digital media, this is leading inexorably to the demise of the media corporations – we can see evidence of this in the myriad of cutbacks, newsroom redundancies and newspaper closures in the last six months in the UK alone.

And it doesn’t look like a trend which is turning about face anytime soon.

Of course, the continued migration of money to online media channels through increased advertising and readership interest levels on the Web will fill the corporate number-crunchers at the media corporations with dread, but if sustainability and commercial adaptability mean more than just words to these guys, a change is going to have to come. And soon.

Fascinating insights from Rushkoff – well worth a read.

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