Old & New Media Can Get Along

18 07 2010

For my final post concerning the impact of social media on traditional media, I want to sum up this topic as a whole and point out the broader impact instead of focusing on specific examples. Let’s start off by recapping 11 lessons that we have learned.

  1. Social media has contributed to the decline of old media.
  2. Social media offers valuable 2-way dialogue.
  3. Social media is weaving its way into television.
  4. Social media can have a sense of humor.
  5. Social media is going audio. (Keep your eye on Audioboo)
  6. Social media has helped magazines stay alive by boosting the quality and quantity of their content.
  7. Social media policies can be controversial.
  8. Social media is a valuable tool for horizontally integrated companies (like ESPN).
  9. Social media has and is making a tremendous impact on journalism.
  10. Social media has helped some newspapers keep readers engaged.
  11. Social media has helped old media engage in online conversations.

Now I know these are not the only things we have learned but they are some of the fundamental lessons. So now what can we conclude about the impact of social media on traditional media?

Like we have already discussed, although social media has contributed to the decline of old media, social media can be used as a very valuable tool for old media to remain competitive. The 2-way dialogue that social media creates has changed the way people communicate across the globe. Whether B2B, P2P, or P2B, I think it is safe to say that social media has made communication much more efficient. For traditional media, this has vital effects because they must keep up with the pace of modern communications. Obviously social media is the resource to accomplish this but old media must strategically use this resource just as any other business must. I encourage traditional media companies in need for such strategies to check out Erica Swallow’s 6 Crucial Social Media Tips for Traditional Media.

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I believe overtime the two will learn how to get along and reach a balance. Newspapers will probably continue to struggle but I hope at some point they reach a threshold where they seize declining because they are so critical to the value of journalism. Just like in the CNN blog post, if social media and traditional media can work to create a mutual relationship it could be very valuable. Autonomous and objective news should be our number one priority as social media progresses and we build this relationship between old media and new media.

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2 responses

19 07 2010
Eric Gustafson

This is a great list that sums up everything you’ve said in a concise, to the point manner. I think that social media and traditional media will eventually become more integrated and will fuel each other. It may not be a perfectly smooth and streamlined process but eventually it’s going to have to happen. I think we’ll see some companies that lag behind and will definitely suffer the consequences but we’re also seeing businesses right now jumping ahead in the social media game.

19 07 2010
Christine Lewandowski

You offer some really great points for traditional media to consider when begin a social media campaign. Traditional media still holds a lot of value and has a lot of information to offer, however, its time to relay the information with new technologies. I think its a necessary shift that is going to happen quickly. Eric is right, that those who do not jump in the game soon will suffer.

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