With media layoffs (McClatchy slashing 1,600 jobs today) and newspaper foldings becoming daily occurrences, editors no longer rely on sourcing stories from the decimated news rooms. They do what everybody else does – go online.
News media still needs to cover core breaking news – economy, politics, editorial, disasters, sports, local coverage – for credibility as news organizations. What’s being left behind are the topical news – arts, food, entertainment, real estate, fashion, home, books, travel – which seem more suited to coverage by bloggers or even corporations involved in the topic.
In real estate for example, I see more data being produced by real estate 2.0 companies that were once the province of commissioned media surveys. Louis Cammarosano of HomeGain tells me today that their just released survey of Realtors on the housing market was picked up by USA Today, Boston Globe and Dallas Morning News. Last week, Trulia.com, an RE 2.0 site had their VP of Marketing Heather Fernandez talking about the Mortgage Relief Plan on KTVU television.
Content is still king, but production is no longer a journalistic monopoly. In fact, the old line producers have moved into a new rank and file of citizen producers, all of whom are competing for media attention. Companies like HomeGain and Trulia that provide the most original or compelling content get to showcase it in this new media system.