Good afternoon, and thanks for joining me for this part of TEDx Toronto. I’m honoured to be included in this event with so many great speakers and thinkers. The title of this presentation is Five Ways New Media Will Save Old Media. If we look at that title, we can see there are three implicit assumptions: 1) old media needs to be saved; 2) old media can be saved; and 3) old media should be saved.
Let’s take those one at a time: does old media need to be saved? Revenues are dropping at many media entities, not just newspapers; circulation is stagnant at best, and some media outlets have already gone bankrupt or closed for good, or gone online-only. Let’s call that assumption “proven,” just for the sake of argument.
Can old media be saved? I believe that it can — although I have no proof of that. If I had proof that old media could be saved, I would be sitting on a beach somewhere. I think it’s also important to think about what we mean by using the word “saved.” Do we mean restoring traditional media to the good old days of 25-per-cent returns and rising readership? I don’t think that’s likely to happen.