Wednesday, October 29, 2008
A "Cesspool" of Disinformation?
“In a world of disinformation, which is the future . . . "
--Google CEO Eric Schmidt
[Source: Jack Myers, "Magazines Are Solution to Web's "Cesspool of Disinformation," Says Google's Eric Schmidt" Huffington Post, October 9, 2008. ]
Eric Schmidt's recent remarks at the American Magazine Conference have caused a stir in the blogosphere.
According to Myers, Schmidt is worried about the future of news: “the future of high quality journalism is a huge problem. A reasonable prediction is that there will be fewer voices. More money is needed to fund high quality work.”
As the media economy becomes more competitive there is less money to fund quality journalism. Schmidt predicts "fewer voices" (media concentration) but the lack of quantity may be compensated for by the preservation of quality journalism. So, what are the news media to do?
The resources necessary for "high quality journalism" will not come from the revenues generated by the printed page: Print, according to Schmidt, “will be a smaller component of a much larger online business, serving an audience that consumes in a different way.” Younger consumers will demand an more "interactive experience" and print must move online to meet that demand.
But the online world requires the content that quality journalism produces. According to Schmidt the Internet is “becoming a cesspool,” of useless information. Here is Schmidt's solution according to Myers:
“In a world of disinformation, which is the future,” he said, “brands are the solution. Brand affinity is hard wired and fundamental to the human condition – who you trust and who you don’t. People want real value, real information, real leadership and messages of hope.”
Schmidt is proposing a collaboration between the magazines and companies like Google to save the "brands" of quality journalism as they shift away from print and move online. An online business model will generate the revenue necessary to support the production of "quality journalism."
It's brand loyalty that will help keep our noses above the surface of this cesspool of disinformation. Set the algorhythm for the quality journalism of the American magazine and help Google help the magazines generate brand loyalty for your favorite news provider.
I would like to take this opportunity to pledge my brand loyalty/allegiance to the New York Times, one nation under the Wall Street Journal, and to the BBC for which it stands, with brand loyalty and quality journalism for all.
[ R.I.P. Christian Science Monitor Print Edition ]
For more pearls of wisdom from Eric Schmidt check this out:
Google CEO Eric Schmidt
"The Future of Technology,"
Bloomberg Headquarters in NYC (October 20, 2008.)
Labels: Google, news media
