Platforms need the news, but they're killing it
Decoder with Nilay Patel
Deep Dive
Why is the current digital infrastructure a problem for quality journalism?
The digital infrastructure, dominated by platforms like Google and Facebook, controls distribution and audience reach, making it difficult for journalism to survive financially. These platforms prioritize algorithmic recommendations over quality, leading to a diluted news ecosystem where original journalism is often overshadowed by influencers and aggregators.
What role do platforms like Google and Facebook play in the decline of journalism?
Platforms like Google and Facebook have taken control of distribution, leaving publishers dependent on their algorithms for audience reach. This loss of control over distribution has led to a homogenized internet where content creators struggle to maintain independence and financial sustainability.
How does the loss of control over distribution affect journalism?
When publishers lose control over distribution, they lose not only the ability to reach their audience predictably but also the independence to shape their content. This dependence on platforms like Google and Facebook has led to a homogenized internet where content creators struggle to maintain their unique voice and financial viability.
What is Baumol's cost disease and how does it apply to journalism?
Baumol's cost disease describes how certain industries, like string quartets, become more expensive over time as other industries become more efficient. In journalism, investigative reporting and original reporting haven't become more efficient, making it difficult for news organizations to compete in a digital economy dominated by platforms that prioritize speed and quantity over quality.
How do platforms like TikTok and Instagram contribute to the value transfer from journalists to platforms?
Platforms like TikTok and Instagram allow aggregators to take original journalism and distribute it cheaply, often without proper credit or compensation to the original creators. This creates a value transfer where platforms and aggregators benefit financially, while the original journalists receive little to no compensation.
Why do billionaires like Jeff Bezos and Patrick Soon-Shiong focus on objectivity in their media strategies?
Billionaires like Jeff Bezos and Patrick Soon-Shiong come from a generation that values traditional, nonpartisan journalism. They believe that restoring objectivity and removing opinionated content will rebuild public trust in media, despite consumer behavior showing a preference for more opinionated and engaging content.
What is the impact of the anti-institutional spirit on journalism?
The anti-institutional spirit, fueled by influencers and platforms, has led to a widespread distrust in traditional media institutions. This has resulted in consumers gravitating towards content that validates their beliefs, making it harder for traditional journalism to maintain relevance and credibility.
What solutions does Matt Pierce propose for funding independent journalism?
Matt Pierce advocates for subsidies or market interventions, such as redistributing advertising dollars from platforms like Google and Facebook back to newsrooms. He also supports antitrust actions to break up monopolies, which could create a more competitive environment for independent journalism to thrive.
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