State of Journalism and Media in 2024 (article)

If you want an in-depth look at the state of journalism and the media today, look no further than New York Magazine's excellent article, which came out a couple of days ago.

It gathers insights from 57 (!) insiders, focusing on how legacy and new media companies adapt to survive.

Here are some of the key takeaways:

- Collapse of Traditional Revenue Models: Newspapers lost revenue to tech companies like Facebook and Google

- New Business Strategies: Subscription models and niche content are becoming crucial for survival.

- Role of Platforms: Tech platforms like Apple News and YouTube now serve as major distributors of journalism.

- Uncertain Power Structures: The ability to influence public discourse has shifted from traditional media to figures like Elon Musk and platforms like TikTok.

- Challenges in Local News: Local journalism is struggling big time, with hedge funds often buying and gutting papers.

- AI and the Future: Media executives express both anxiety and cautious optimism about AI. Journalism and freedom of the press are cornerstones of democracy and are worth fighting for.

What do you think?

NY Mag article: https://nymag.com/intelligencer/article/digital-media-industry-press-journalism-future.html

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