Facebook and newspapers: general interest vs. local
Posted by John Burke on October 23, 2007 at 2:30 PM
It may be the web's most popular phenomenon, but are huge social networks like Facebook all the surrounding hype makes them out to be? According to investors, probably not. But according to this newspaper blog, local is a rife opportunity when it comes to social networks.
Two articles this week take a look inside the potential bubble that is brewing around (extremely) popular social network sites.
CNet points to a study conducted by Datamonitor that shows the number of social networking users peaking by 2009 and that revenues will rise from $965 million in 2007 to $2.1 billion in 2012; not chump change, but not exactly earnings that merit the $15billion and $50billion value that some have pinned on Facebook and MySpace respectively. Others show that these two sites lost 1 million users a piece in September. Datamonitor suggests that investors tread cautiously and that social networking sites layoff the IPO prospects for a while.
The Economist takes a similar stance, although it sites one innovation at Facebook, opening up its site to outside programmers, as one from which others in the Internet industry have taken a cue. Could newspapers adopt this open source approach?
There are at least a couple of examples.
1. The Washington Post lets users make “mashups” with its content, effectively changing its articles, images and video, but spreading the Washington Post brand name into circles in which it may not have been recognized before.
2. Most Facebook independent developers create widgets for the site. Newspapers have recently started to create widgets, although they are producing them in-house.
Obviously this is not the same as the “open source” development exhibited by the likes of Facebook and only time will tell if newspapers will someday open their website code to readers/developers. But the two articles have some positive news for newspapers when it comes to social networks.
The Economist notes that “social networks lose value once they go beyond a certain size,” and Datamonitor concludes that “special interest social networks will continue to play a role.” This is perfect for newspapers if they are to get into social networking.
We’ve shown in the past that large newspapers have had a hard time integrating social networks into their everyday production. But there are examples of local papers that have taken full advantage of the phenom, helping to add to and reinforce their community while simultaneously creating a new and popular platform for advertisers.
Still, some might argue that social networks aren’t really about news in the traditional sense. But what is news in the traditional sense? News is what’s important to those who are reading it. If someone cares to be updated about what is going on in the lives of their friends, family or community, then that’s news to them. Social networks are a way of providing that news to people. They are a service that local papers should be offering, helping communities to communicate. Therein, reporters can find idea, digging up the dirt as to what is really going on in the lives of the people on whom they report. And those communities that may be straying from the daily paper will likely come back.
Sources: CNet, The Economist
CNet points to a study conducted by Datamonitor that shows the number of social networking users peaking by 2009 and that revenues will rise from $965 million in 2007 to $2.1 billion in 2012; not chump change, but not exactly earnings that merit the $15billion and $50billion value that some have pinned on Facebook and MySpace respectively. Others show that these two sites lost 1 million users a piece in September. Datamonitor suggests that investors tread cautiously and that social networking sites layoff the IPO prospects for a while.
The Economist takes a similar stance, although it sites one innovation at Facebook, opening up its site to outside programmers, as one from which others in the Internet industry have taken a cue. Could newspapers adopt this open source approach?
There are at least a couple of examples.
1. The Washington Post lets users make “mashups” with its content, effectively changing its articles, images and video, but spreading the Washington Post brand name into circles in which it may not have been recognized before.
2. Most Facebook independent developers create widgets for the site. Newspapers have recently started to create widgets, although they are producing them in-house.
Obviously this is not the same as the “open source” development exhibited by the likes of Facebook and only time will tell if newspapers will someday open their website code to readers/developers. But the two articles have some positive news for newspapers when it comes to social networks.
The Economist notes that “social networks lose value once they go beyond a certain size,” and Datamonitor concludes that “special interest social networks will continue to play a role.” This is perfect for newspapers if they are to get into social networking.
We’ve shown in the past that large newspapers have had a hard time integrating social networks into their everyday production. But there are examples of local papers that have taken full advantage of the phenom, helping to add to and reinforce their community while simultaneously creating a new and popular platform for advertisers.
Still, some might argue that social networks aren’t really about news in the traditional sense. But what is news in the traditional sense? News is what’s important to those who are reading it. If someone cares to be updated about what is going on in the lives of their friends, family or community, then that’s news to them. Social networks are a way of providing that news to people. They are a service that local papers should be offering, helping communities to communicate. Therein, reporters can find idea, digging up the dirt as to what is really going on in the lives of the people on whom they report. And those communities that may be straying from the daily paper will likely come back.
Sources: CNet, The Economist
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Have you seen the Facebook group for Nola.com (New Orleans newspaper), it is lame, is has 27 members :(
Have you seen the Facebook group for Nola.com (New Orleans newspaper), it is lame, is has 27 members :(