Best quote of the week “News sites can no longer capture reader’s attention with 20 percent news, and 80 percent suck.” comes from Erick Schonfeld’s piece in TechCrunch
Schonfeld nails it in his rebuttal of Arnon Mishkin’s article “The Fallacy Of The Link Economy” which contends that Google and others steal content when they aggregate headlines. Coming from the telecom world, I understand that the disruption caused by technology can wreck havoc with business models. For the incumbent telecom carrier or for the incumbent newspaper publisher the disruption is devastating. However, for Mishkin to believe that people want to consume news online by visiting a newspapers’ site with “20 percent news, and 80 percent suck” is just wrong.
Schonfeld’s points nail the reasons that I canceled my 19 year subscription to the dead tree edition of the Wall Street Journal (although I still pay for access to the on-line edition) and why we don’t get a local paper anymore. I do not need a “bundle” of news collected in a paper when the majority of the content is not relevant for me. I get far better quality and quantity of news by aggregating the topics that I care about with Google Reader and Times. Twitter provides better breaking news updates.
To the publishers – embrace the multiple front pages to your content, and focus on creating awesome content.
[As an aside, the video channel aggregators (also knows as cable operators) better get ready; the same technology wave is coming for them next and nothing shrinks margins faster than disintermediation.]
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