New media smackdown!

Growing up Time Magazine was always the pinacle of weekly journalism so it came as quite a surprise that anyone would leave Time for a blog network:

Kim Kelleher is leaving her post as worldwide publisher of Time magazine to become president of Say Media, the blog network that includes sites such as XOJane, Gardenista, ReadWriteWeb, Style Bubble and Techdirt

Why is this a big deal? Simple: publishing is moving towards the direction of aggregation and curation. While¬†Time’s ad pages this year through its July 2 issue have declined 20% from the year-earlier period, Say Media has managed a $30 million round of funding in order to grow their business. It’s also interesting to see how a company needs a network of sites to monetise rather than a smattering of individual portals that local sites tend to subject us to.

For me the most interesting issue to consider is the need for a traditional publisher to be involved in a web content business. This shows that despite the fact that there are vastly different business models the underlying content needs to be extremely captivating and requires a “traditional” publisher overseeing this side of the business. This has never happened locally and I feel would be something that would give a greater editorial voice to our online content sources.

Source (Ad Age)

PS: Featured image is of birthday boy Nelson Mandela, wishing him a happy birthday from Loosechange.

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