Saturday, November 30, 2013

What value news analysis?

As much as news organizations are fighting with the issue of revenue, along with plenty of others trying to figure out how to make money in our modern web age, I think it fascinating to ponder how news makes sense.

For instance, in our modern world, news travels fast.

And as a baseline I'm going to use the 2012 election year in the United States to make some points. For instance, how long did it take for results to travel? And did we have to have news agencies do it?

Reality is that when it comes to important news which matters to a lot of people they will spread it fast, and while I'm sure lots of people got their results about elections outcomes directly from some news organizations, others may have heard it, like, even shouted at them excitedly by someone else avidly watching.

Doesn't take much to say, this person or that person won or lost, right?

So why should we pay for it?

But what about the 'why' of the news?

Trying to explain the why of events, unlike reporting itself, is a thing called news analysis!

Twitter lets you embed tweets which is something I've found could be useful, and it has relevance here as I have an opinion, which I voiced on election night. Here it is:

So there is this record of my opinion, with a date and timestamp, where looking at it now (and how else would I have remembered as I didn't care a lot at the time), which shows I put that tweet out November 6, 2012, at 5:44 PM PST. And I just favorited it. I favorite my own tweets to keep up with, yup, my favorites, like this one.

That is not news--it is news analysis. And it's JUST an opinion, which happens to be mine.

Is it true? I don't know.

However, unlike the news itself which travels rapidly, news analysis has a value which does not evaporate over time!

Isn't that weird? If I'm correct, then it still matters today, maybe even more than it did back then, as there are more elections coming up!

But who knows?

Time will tell.

When I look over the world of media outlets I am impressed not so much with breaking news--even though it still has a LOT of value but that value fades quickly as the news progresses--but with analysis, which is the key differentiator in my opinion.

And news analysis-- unlike breaking news--gains value over time if correct!

That's where the money is, in my opinion.

James Harris
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