Found this article over the weekend and thought it may be of interest to aspiring young journalists like ourselves. Matthew Ricketson from The Age newspaper talks about the face of journalism and the media in five years time.
"What this underscores is that traditional media companies ignore the power of the internet to transform the media at their peril. If they do, they risk repeating the error made by Sony. The powerhouse of the recorded music industry refused to forgo revenue from CD sales only to see a computer company, Apple, create a device (the iPod) that consumers took to like a cat to catnip."
Well put. Furthermore:
"By 2012, according to PricewaterhouseCoopers, the size of the internet market — and that includes revenue for internet service providers as well as advertising — will be $6.74 billion compared with the size of the newspaper market ($5.85 billion) and commercial free to air television ($4.17 billion)."
Interesting stats in an up-to-date piece written on August 20, 2008. To read more click here.
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