On unified news desks, we need to become content editors rather than page editors. We must rethink how we publish our content, when and in what form, whether conventional news, blogs, video or social media.
—“Lionel Barber’s Email to FT Staff Outlining Digital-First Strategy,” guardian.co.uk., January 21, 2013.
The vision for the business section of the site is that it will be a single source for readers to find the best business news and analysis online—regardless of source. The news will come from Reuters and from the rest of the web. As for the analysis, sometimes we’ll link to it, sometimes we’ll reprint it from elsewhere, and sometimes we’ll write it ourselves. Which means that although writing is going to be a key skill for anybody on the team, we’re looking for writers of the contextualizing, value-adding sort—rather than reporters.
—Felix Salmon, “Next Steps,” blogs.reuters.com, February 1, 2013.
What’d I miss?
Or so says a rather large and growing part of traditional business media.
All—Barber’s Financial Times, Salmon’s Reuters, Bloomberg in all its facets, the Telegraph, and on and on—are observing, discussing, debating and hopefully reacting and acting upon … digital.
Anyone who produces or consumes the financial media sausage must read Barber and Salmon and consider where we are now and where we will be in, say, 60 months.
The common theme is speed. (It is breathtaking how out front Bloomberg News Editor-in-Chief Matt Winkler was on all this, back in the days of the quill.) All consumers of economics, finance and investment news have had it. They want it now or on instant recall.
(One window: We at Bloomberg Surveillance pride ourselves on “beating red stickies.” Our mission-critical headline team, led by Kevin Reynolds, generates Bloomberg headlines. Marty Schenker and our TOP editors then choose which should be featured in red. My team, radio and TV, makes a sport of identifying Reynolds’s work and getting it out on radio and TV before Schenker’s team pulls the red trigger.)
That is just one example of the present need for speed and the requirement to destroy old methods and yet retain accuracy and integrity.
Lionel Barber nails the need for “content editors.” Felix Salmon nails a need for “writers of the contextualizing, value-adding sort.”
I am fortunate in having an array of traditionalists and digital-types backed by the Bloomberg Terminal. We, and our good competitors, are dealing with 2013 reality.
And the reality is … Joe Weisenthal.
Joe, with Business Insider support, has, shall we say, recalibrated digital speed, brevity, aggregation, concision and the every-about-eight-day weightier note. (He has tweeted 108,634 times.)
He respects copyright. He does not sleep. He wakes up at 4 a.m. and tweets @TheStalwart, “What’d I miss?”
Joseph Schumpeter (1942), from Marx, gave us creative destruction. All of us are adapting to the very new, new of business news and what our listeners, readers and watchers want.
They want smart and they want it soonest.
There will be a building of strategic and follow-on tactical plans. All of them, in part, reacting to creative @TheStalwart destruction. Discuss.