Posts filed under 'Fortune'
By Molly Galler
Today is the first day of the annual South by Southwest (SXSW) conference in Austin, TX. From all corners of the earth musicians, film makers and techies join forces for a week of round the clock events and celebrations.
This year, taking center stage on the tech side are GPS based social networks. If you are an active Twitter user, you have seen these updates in your feed. Perhaps a friend has announced they’ve become the mayor of Starbucks thanks to Foursquare. These social networks are becoming more popular and their hope is to become widely adopted by the end of this week.
Caroline Waxler wrote a piece today for Fortune magazine’s Brainstorm Tech blog in which she explains that two heavy hitters in the location-tagging social network space, Foursquare and Austin based hometown hero Gowalla, are viewing South by Southwest as the perfect venue to show their network’s superiority. On the head-to-head match up she writes:
“This is so closely watched at South by Southwest not because people feel like they’re witnessing magic but more for two reasons: One, everyone loves a good rivalry and two, South By Southwest attendees by definition love to geek out. (It’s affectionately known as “spring break for nerds.”) And, what better way to do that than to compete over who is the top visitor to the various venues associated with it? Foursquare is even giving out temporary tattoos to commemorate those achievements.”
Why all the fuss over this one conference? Jenna Wortham of the New York Times wrote on today’s Bits blog:
“For start-up hopefuls, capturing the fancy of the attendees is almost as important as checking out the panels and parties. The high concentration of tech savants supplies a rare opportunity for companies to woo the eyes and clicks of early adopters and influential Twitter users and bloggers capable of elevating their sites and services out of obscurity.”
SXSW runs today through Sunday March 21st and in that time frame Foursquare and Gowalla hope that the heavy hitters in tech will not only adopt their social networks into their daily lives, but spread the word to the masses. One location at a time.
March 12th, 2010
By Molly Galler
Don’t forget to make a wish!
Today Facebook turns 6 years old. While most 6 year olds are navigating the perilous world of first grade and still learning to dress themselves, Facebook is a prodigy.
It’s hard to remember a time when Facebook wasn’t a part of our every day lives. Now when you meet someone new, you “friend” them. When you want to keep someone from knowing what’s happening in your life, you “defriend” them. When you take pictures at a celebration or on vacation you exclaim, “Don’t worry, I’ll tag you!” When you want to wish a friend a happy birthday, you post to their Facebook wall, maybe you even send a Facebook gift (maybe you even rely on Facebook to tell you when their birthday is).
It’s hard to recall those early days when you had to be a Harvard student to access the site. The gates slowly began to creep open allowing other Ivy League students, and finally anyone with a college email address. Now people of all ages, across the globe need only their email address to access the world’s most talked about social networking site.
What is perhaps the most surprising development in the past 6 years is the way Facebook has impacted business. If you are a consumer facing brand and you do not have a Facebook group or fan page, you do not exist. Consumers are searching for companies and services via Facebook because that is where they spend most of their time online. Businesses have begun to push out major news via Facebook, drive traffic to their Facebook page via television commercials, and even offer special Facebook-only promotions.
Technology writer Jessi Hempel wrote a superb piece for Fortune Magazine, “Facebook Turns 6!” on the six ways Facebook has dramatically impacted our lives.
What is your topic pick for how Facebook has changed the game?
February 4th, 2010
By Kyle Austin
On Tuesday the Publishers Information Bureau released its 2009 year-end magazine advertising report. Not surprisingly the report revealed that ad pages during the Media Meltdown of 2009 were down 25.6 percent for the industry, while estimated revenues closed at $19.45 billion, a drop of 18.1 percent.
Compare this with the 11.7 percent in ad pages that dropped from 2007 – 2008 and the 17.5% percent drop in revenue during that time period.
Looking closer at key news and business magazines (the ones that still remain in print and open for business), it was a dreadful year in revenues and lost ad pages for their print businesses. BusinessWeek, which changed hands to Bloomberg’s control in 2009, was one of the biggest losers in-terms of ad pages for business magazines with a 33% drop-off. U.S News, which cut back on print to bi-weekly and then monthly in 2009, was the biggest loser in ad pages for “news magazines” with an 81% drop. Newsweek, which tried to become more like the Economist to push off its eventual death, dropped 25% in ad pages. This was worse than its 19% ad page drop as a true “news weekly” in 2008, but alas it was also during a far worse market.
Forbes more than doubled its ad page drop, increasing to 30% in 2009 from a 14% drop in 2008. Fortune had an even worse year as it prepares to shrink the number of issues it releases down from 25 to 18 in 2010. While its ad pages were nearly even between 2007 and 2008, it witnessed a 36% drop in ad pages for 2009.
The Economist, which somehow managed to actually grow ad pages by 4.4% in 2008, wasn’t immune this year either. Its ad pages dropped more than 20% as well in 2009.
All of this is very interesting, but the larger question is how long will these numbers even matter? 2010 will undoubtedly be the year that the pay-wall returns to Internet and larger revenue percentages shift from print to online. Soon the numbers here will only be a footnote, or perhaps non-existent, as print operations cease across the industry. So how will we calculate? Digital eReader ad pages anybody?
January 13th, 2010
By Kyle Austin
In his typical fashion, David Carr of the New York Times eloquently sums up in today’s Media Equation column why coverage of business isn’t following the business rebound. Or as he mixes words much better than I, “Business is a Beat Deflated.”
Despite, positive news on the economic front, those that cover business continue to be hit with painful developments, which Carr references:
- Last week the Wall Street Journal closed down its Boston office, which had been a long-time staple of deep-dive reporting and investigative journalism. Although they noted that some investigative function will remain, the closing ended Bill Bulkeley’s multi-decade run at the Journal. Bulkeley had been with the Journal for 37 years, covering technology since 1979. He was, up until his exit, the main beat reporter of IBM and EMC, two Fortune 500 staples. (Update: Bill noted to me earlier this week that he was “blindsided” by the closing and was still trying to figure out what was next after 3 decades there).
- BusinessWeek, was sold after 80 year’s of ownership by McGraw-Hill for as little as $2 million a few weeks ago.
- Fortune announced last week that it will cut back from 25 issues to 18 issues a year. In addition, insiders believe that additional cuts will occur across TIME Inc. magazine properties by the end of the year.
- Forbes already announced last week that it will cut a quarter of its staff.
- Carr doesn’t mention that his own paper will shed 100 news room jobs by the end of the year.
Carr uses the data to outline his theory that: “While the business of business may be back, the business of covering it with heroic narratives and upbeat glossy spreads most certainly is not. And probably never will be.”
Its hard to argue against and even tougher to explain to clients (especially CEO’s) that have grown accustomed to associating PR success with their appearances on glossy covers. Peter Himler touched on this last week, when looking at Michael Bush’s piece for Ad Age:
“There remains a vast swath of corporate communicators and their bosses in the C-suite for which a Twitterfeed, company blog, YouTube or Facebook page takes a distant backseat to a prominent piece in Business Week or The Journal or an appearance on ‘Today’ or ‘Squawk Box.’ Believe it or not, even a client’s by-line in the world’s most popular (and conversation catalyzing) blog Huffington Post isn’t viewed by many as having the same value as a piece in The New York Times or the New Yorker.”
It’s not going to get any better. As we know, the business of business journalism is broken in the digital age. With business updates by the second, readership for past-tense features are rapidly dwindling. Therefore, ad dollars that still exist, are moving away from the magazines and into new digital channels. However, Carr hits on something much deeper than just the business being broken. He attributes part of the collapse to consumer resentment and being out of date / touch:
“It’s not that the public has lost its appetite for stories about handsome men in three-piece suits who clink whiskey glasses at the end of a long, not-so-hard day while talking smack about their female co-workers. But “Mad Men” pretty much sates that need. The businessman as Colossus is by now a nostalgic impulse.”
It’s a valid argument. Heck, TIME is trying to leverage the resentment as a way to make money on its business coverage (cover above). Unfortunately, that isn’t a good story for TIME’s colleagues at Fortune, the Bill Bulkeley’s of the world or CEO’s looking to get their name in print – or even Google searches. Those that consume business media consume, as Carr notes “hope and aspiration.”
The issue of Fortune on newsstands now, adorned with a digital image of Obama and Google glasses will probably be one of the best-selling issues of the year. Just like this Economist cover probably was. Therefore, when I look back a few weeks ago to Bulkeley telling me in advance of a briefing that he and the WSJ Boston office were kept away from Obama’s cleantech discussion at MIT “because DC owns all Obama coverage,” it was probably a bad sign on a variety of fronts.
There just isn’t much hope in business journalism these days, unless you’re working on cable TV.
November 2nd, 2009
By Ben Haber
This week’s #FollowFriday recommendations are Fortune’s green reporter, Olivia Zaleski, and ReadWriteWeb’s Fredric Lardinois.
When it comes to following green people on Twitter, Olivia Zaleski should be included on any list. Olivia is the host of Fortune’s “The Business of Green” video series, which looks at sustainability, the environment and how businesses are successful in those areas. While she interviews some of the most well-known and interesting business people, Olivia makes time to get her Twitter pals involved by taking questions that people would like to see answered and working them into her interviews. So if you’re passionate about the environment and looking for a journalist that will engage with their followers – Olivia is a sure follow.
His bio may limit him to Web 2.0 but Frederic Lardinois takes a look at much more than that. From Microsoft and Yahoo to eBay, Frederic weighs in on most major topics on and off the web. But beyond the breadth and quality of his reporting, Frederic actively follows and engages with over 3200 placing him amongst Twitters most active reporters. If you’re not familiar with Frederic, he’s definitely worth a look… and a follow.
Dan Walsh contributed to this post
August 28th, 2009
By Kyle Austin
Posted via web from kyledaustin’s posterous
July 23rd, 2009
By Kyle Austin
Posted via web from kyledaustin’s posterous
July 23rd, 2009
By Kyle Austin
Posted via web from kyledaustin’s posterous
July 23rd, 2009
By Kyle Austin
Posted via web from kyledaustin’s posterous
July 23rd, 2009
By Kyle Austin
Posted via web from kyledaustin’s posterous
July 23rd, 2009
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