My colleague and research partner Geoffrey Graybeal put together a few names and companies we will be keeping an eye on in 2011 in the world of social media, journalism, digital media, and paid content. Each of these are implementing some part of the 4M model. Here’s Geoff’s piece:
Innovation” and “entrepreneurship” have become buzz words that are loosely jockeyed about when describing the changing nature of journalism. You know, you’ll hear “newspapers are horrible innovators” on one side of the coin or “journalists need to develop an entrepreneurial spirit” on the other. These words often appear again and again on both sides of the digital media debate. The need for innovation, the need for experimentation among news organizations and traditional legacy media is clear; just as evident is the desire to develop new ways of thinking among would-be startups. With that in mind, I wanted to provide a list of a few people and organizations worth watching this year for their efforts in social media, news, or digital content. Some are familiar names and faces from conferences I’ve attended, while others are people I’ve never met. These efforts in entrepreneurship and innovation are worth keeping an eye on in 2011. Any of these have thepotential to be game -changers in a big way:
- Ingmar Miedema: The Dutch businessman contacted Jameson Hayes and I about our Modified News Micropayment Model. We’ve been in discussions with him about a number of ventures, including an effort to launch the model. You’ll want to keep an eye on the Netherlands and Europe as Ingmar’s innovative platform comes alive this year.
- CarrotPay: This Hong Kong-based company also has a “digital wallet” type technology that would enable many aspects of our model to work. Ricky Rand’s company has been hard at work trying to get news organizations to use his innovative (there’s that word again!) software.
- Jim Moroney & the Dallas Morning News: We first heard Moroney speak at the International Symposium on Online Journalism last year. He said that newspapers must do something differently than the status quo and figure out ways to monetize content. The turn of the year brought action as Moroney unveiled new digital pricing structures for the Dallas Morning News.
- Susanne Rust & HearSay: This Knight Fellow’s project is a social news game that combines points and a rewards system for news consumption on mobile devices, sort of a Foursquare of news. Aside from a clear way to monetize the content, in many ways this platform would be a ripe avenue to launch the mobile modified news micropayment model we called for in our original paper (note: this opens a PDF).
- Pinyadda: We really look forward to seeing what this Boston start-up has to offer because the concept of a personalized social news platform really resonates with myself and my micropayment co-author. This site seems to harness many of the drivers of our model so we hope it is successful.
- Krissy Clark: Another 2010 Knight Fellow, who studied the digital humanities during her time at Stanford and launched projectssurrounding location aware storytelling. As a former journalist, I love the use of social media to tell journalistic stories and the audacity that “you can click on the world.” Her website is storieseverywhere.org.
- New York Times: As the “The Gray Lady” moves its online content behind paywalls, the rest of the news industry will be watching and awaiting the results. I firmly believe that the Times’ effort to charge for content will succeed. Research I did with another University of Georgia colleague, Amy Sindik, found that Millennials were more likely to pay for the Times online than any other newspaper we studied (the Sindik & Graybeal article is in press in the Journal of Media Business Studies). The Times‘ has a strong enough brand and reputation for quality journalism with content you simply cannot get anywhere else. These are factors that will influence consumers’ willingness to pay for digital content. Nevertheless, the Times experiment could be a harbinger for the rest of the industry considering paywalls and paid content strategies.
- PayPal: The largest site for electronic commerce has added micropayments and partnered with Facebook. This could go a long way in increasing the popularity and use of micropayments.
- Other Knight Fellows: Quite a few of the 2010 Knight Fellows worked on projects with synergies to our work. John Duncandeveloped audionewspaper.com as an effort to find a way to get people to pay for content, chiefly radio news reports. Andrew Finlayson studied mobile, video, social media and the Semantic web and chronicled his search for a new viable business model onadigitaljournalist.com, while Gabriel Sama’s Thinking Strategicallyslides (note: links to a PDF) are worth taking a look at (his “DNA of a publication” on slides 43 and 44 is spot on). We have a hunch that some of these Fellows’ efforts will prove fruitful and that more could come to fruition as a result. We look forward to seeing what else they accomplish and produce in the digital media, journalism and social media realms.
- John Paton: The CEO of the Journal Register Group has been leading the digital-first charge for newspapers. Like Moroney, we saw Paton speak at the International Symposium on Online Journalism last year. He’s an energizing force in an industry often assailed for inertia, a leader not afraid to make sweeping changes. He’s had success with his in 2010 and will be worth following to see if he can duplicate his successes in 2011.
There are many other great minds, dynamic personalities and driven companies hard at work whose efforts could radically alter the Internet and our online media consumption habits as we know them. I, for one, am excited about what changes are in store in 2011, whether they originate from one of the above or not. I look forward to seeing what the new year has in store for social media, journalism and paid digital content strategies. Feel free to join in the conversation and add to the list.
-Geoffrey Graybeal, Lede L.L.C.