What will eventually kill most business trade media…(in the real estate industry in particular)
If you are following what’s happening in the big media world, it’s all about the unbundling of content and the sharing of it on multiple platforms. Just take a look at Facebook’s initial success with Instant Articles or Apple’s recent push into aggregating news content with their News App. So, when two of the most successful and largest technology companies decide to invest in similar news tools, that should tell you something.
What do Apple News and Facebook Instant Articles have in common?
They are both huge platforms for content. And they both want to enrich their users’ experiences by sharing great news content.
Quality news sources see the opportunity...
Both Apple and Facebook have attracted quality news sources as contributors of content. This makes me realize how serious big, influential media view the opportunity of offering their content to these enormous platforms.
Just look at some of the sources that are participating in the Facebook and apple news sharing platforms:
The New York TimesVanity FairBloomberg BusinessCNNESPNVogueVoxFox NewsWSJBuzz FeedTimeBusiness Insider
The list goes on and on...
Going directly to the source is old news.
Most people are not getting their news directly from the source anymore. We generally get our news from the platforms we use - think Twitter, Facebook, Medium, LinkedIn, etc. One platform that is doing great is The Skimm for its demographic profile, specifically successful business women.
But what about platforms and networks for business verticals?
There are some good ones like SmartBriefs, or CityBizList and many others devoted to specific niches.
In my world of real estate media, I built a platform to organize and distribute the entire industry’s news content. The platform allows for companies to upload and distribute their content directly to industry professionals at no cost - which they love and are happy to contribute.
But, amazingly to me, not all of the big trade media outlets in this sector make their content available to networks and platforms. I am dumfounded as to why. Platforms drive traffic. Platforms help curate the news for professionals. And platforms serve up page views and ads from the publishers.
The world of content, information and commerce are all moving towards platforms and networks. Whether you’re booking a hotel or getting your news, everything will eventually be served up by a platform. For a great source on platforms check out Platform Revolution by Sangeet Paul Choudary.
Unfortunately an “old school” mentality of not recognizing the power of this phenomenon will ultimately kill traditional trade media. It’s just a matter of time. As more and more people get their news from platforms and networks because they make life simpler and more efficient for the readers, less and less people will go to media sites directly for their news.
And when those old habits are broken, the audiences will stop growing for traditional media.
One simple action will change this for them…
It’s on old concept, but one that apparently is new to trade media.
It’s only a matter of time till its too late...