What is the future of news media? Or even business media?
If one judges by the period between 2010 to 2020, one would be led to believe there is no money in news media, and reporters and journalists are in deep trouble. One wouldn’t be wrong, of course, but one wouldn’t be accounting for 2020 in the post-COVID times.
What happened to employment after the coronavirus became a household word can be seen by everyone globally. Nearly 300M people around the world have lost their jobs, and the number is likely to clock in between 500M and 1B people that will need to think of a new way to make money.
The loss of jobs is just staggering.
The only winners are existing large corporations who have become bigger and meaner, and have market caps of well over a trillion dollars, and certainly in the hundreds to tens of billions of dollars each.
So as Facebook and Google and now Apple and Amazon and all the other big tech platforms become even stronger and more ubiquitous, what kind of world do we see unfolding in the future? Already media was suffering, as ad dollars drop across the world, and get reallocated to digital, what happens to all the independent news / media companies now?
This post introduces Newstype, a new Awake platform that fills a critical gap in today’s Internet infrastructure, particularly when it comes to monetization of media.
Monetization on Digital Networks
We have written in the past about the Internet, the network of networks it was meant to be, with HTTP designed as an open internetworking protocol that never really delivered its full promise. Instead we got the big tech platforms, and now they’re getting bigger.
And big, of course, as determined by not just the number of users and the ubiquity of their tech, but obviously the gargantuan amounts of revenue they are sucking down from the whole market, aka the Internet. This is an arbitrage play, and data is the oil that juices this engine.
Media companies across the globe have suffered thanks to this explosion of platforms and aggregators, billing themselves as social, but in reality are anything but social. Given their disastrous effects on society, one may classify them as anti-social, but until there was an alternative, there seemed no way out. No more.
So with Shoptype, merchants are able to tap into large networks of people who get paid when their digital media and social shares drive sales.
In other words, Shoptype creates networks of Cosellers, that help drive revenue into sellers and manufacturers. And because Shoptype enables a network of networks, tracking member activity across any Internet platform such as Facebook or Twitter or Snap, or any other HTTP platform, it enables new ways to look at digital markets.
Media & Commerce
Media drives commerce, this has always been the case, otherwise you wouldn’t know of new products and services. So how come then that media is having so much time monetize their expertise and influence?
There was a time when newspapers controlled local markets because brands and manufacturers reached audiences through these newspapers. Over the past decade or so, news media companies struck the faustian bargain with social media platforms such as Facebook and others, effectively handing over their businesses and livelihoods to the aggregator platforms.
Why did they do this? Primarily due to a lack of imagination and technology know-how. Perhaps there are other reasons, please do leave them in the comments section below.
Despite what the current situation is, despite how dire the odds of media surviving this final straw, one thing has not changed. People need good advice and trusted recommendations on what they should do with their time and money, whether the question concerns consumption or investment.
The Rise of the Influencer
This is not a new idea, the advertising business model is not different from this approach at all. Advertisers are really sellers, hoping to get people to engage with them, check out their products and services, and buy.
There is no other reason for businesses to engage with media.
And this is clear from the rise of the influencer these past few years, with Instagram and others now adding commerce functionality directly into the platforms. Of course, in their case, they make money end to end, with businesses likely falling over themselves in trying to get this new channel going. Again, leaving old media behind, and certainly, even new media, unless they pay their Facebook tax. And the Apple tax, and the Google tax.
So this new gig economy worker, the influencer, really led the way in many respects, to the return of monetization, as we will shortly see.
What is special about people who call themselves influencers? How come they make so much money? How come countries like China and Korea are classifying these people as an entirely new class of economy?
And if individuals like that can make money on existing platforms, why not extend groups of people into making money across platforms? Specifically, across ALL platforms of the Internet, anywhere HTTP-based media can travel and where people hang out.
This is what Newstype makes possible.
A magically pre-integrated Internet where the platforms can not eat our revenue streams for lunch 😉
Newstype enables a new Internet where networked individuals, such as a media company full of journalists and curators, can collaborate to drive sales across any number of verticals across a network of markets, and other Newstype networks, across the world.
Newstype creates a new revenue stream that delivers 10X to 100X more profits within weeks.
So the future of our world, post-COVID, can be one of two things.
In the first case, it is a Big Tech driven Big Brother world of Big Corp. This is accelerating right now.
The other is the return of monetization, across all institutions of society, starting with the very ones that have been decimated in the past decade – our journalistic and news organizations all around the world.
The Newstype Network
Newstype is seeking newspapers, magazines, content apps, and all types of news media organizations from around the world. And before you get in touch (email us at email@example.com), there is one more thing.
The Newstype Network is a set of common business services that are available on demand starting from content services, to advertising operations (Ad Ops), branding and marketing services, and most importantly, sales enablement and direct sales services.
Newstype runs in the cloud, and is entirely managed by the Newstype team, allowing newsrooms, media organizations and companies, magazines and newspapers to just plug in.
A simple 1-click install can turn on commerce-led revenue, and all work of bring on sellers, managing inventory, logistics, support, everything is handled by our underlying technology-powered network of network of service providers.
This means that the media folks are free from the burden of having to understand and manage complex technology, and from having to manage sales and brand campaigns and so on. They are able to focus on their core offering – quality, engaging content for their audience. All the while getting up to two orders of magnitude increase in revenue and profits.
As a global network of Newstype-powered media networks, for the network of brands, retailers, cosellers, influencers, ambassadors, and indeed, journalists, the opportunities are limitless.
AwakeVC is launching and helping launch nearly 100+ media networks powered by Newstype over the next few weeks. And to power them, we’re facilitating a huge number of Journalist 2.0 jobs. If you are interested in the future of journalism, are looking to create engaging content that resonates with readers and engages audiences, we’re hiring! Reach out today at firstname.lastname@example.org.
And if you’re a media company, you know what to do: email@example.com.
Embrace the return of monetization with Newstype, and find out why 2020 will be your best year.