Social Media Not Necessarily Journalism’s Panacea, News Bosses Say
Tech giants may have their own views on what journalism should become, but some news organisations are questioning what benefits the social vision of future news can really bring at a time when they’re struggling for business survival…
“Facebook will make north of $3 billion in advertising this year,” FT.com MD Rob Grimshaw told the Paley Center For Media’s international council in Madrid on Thursday ”This is not doing anything good for journalism – in fact, it’s destroying it.”
Many news publishers now pipe stories through Facebook, which has also become an important referrer. Guardian.co.uk has made itself available inside a Facebook app. Grimshaw was not criticising such journalism efforts. “We have to engage with social media,” he said.
But Grimshaw is concerned that Facebook is beginning to gobble advertising money from news publishers. “I don’t blame Facebook, but I do blame the publishing industry for being very naive about some of these fact,” he told the gathering of digital news bosses in Madrid.
“Not all distribution is good distribution,” Grimshaw said. “We have to bring people back to FT.com, where we can generate revenue from them. It works very well, we’ve built a profitable model. The idea FT journalism…read the full story at Paidcontent.co.uk
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