The business model of media is broken. News has become a commodity, available to anyone, in real-time and for free. Digital advertising is mostly a failure: a reader on a web site brings 10 or 15 times less revenue than a reader of a newspaper or a magazine and it's even worse on mobile. Aggregators highjack value by looting original contents. As a result, supporting quality journalism becomes uncertain.
Why mainstream media dropped the ball on digital in such blatant way? Many factors are at play: lack of anticipation, under-investment in technology, but also a strong resistance to change. Media companies and readers are about to pay a heavy price: reliable information will become a niche market for a small segment of the population.
Where do we go from here? How to take advantage of the new way people consume information (mobility, social networks, blogs)? How to devise a different architecture for information in which the news platform will replace the old concept of publication? How could media houses diversify their businesses?
As the head of digital operations for Les Echos Groupe in France and the editor of the Monday Note, Frederic Filloux has strong views on how to restore value to reliable and original information.
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About the speaker:
Frédéric Filloux, is the editor of the Monday Note (www.mondaynote.com) a blog and newsletter that covers the business models of digital media and technology (his co-writer is Jean-Louis Gassée, a venture capitalist from Palo Alto). The Monday Note is read by about 20,000 professionals and republished on the Guardian website.
Frédéric is also general manager for digital operations at Les Echos, the leading business media house in France. Groupe Les Echos includes a daily, several magazines, various B2B activities (conferences, trade shows, market intelligence) and a radio station.
Prior to that, he worked as an editor for the international division of the Norwegian media group Schibsted ASA. In 2002, he was part of the managing team that launched the free daily 20 Minutes, which became the most read newspaper in France. Before that, he spent 12 years at the daily Liberation, successively as a business reporter, New York correspondent, editor of the multimedia section, manager of online operations, and finally, editor of the paper).
Among other things, he's also a contributing professor at the Sciences-Po School of Journalism and board member of the Global Editors Network (GEN). He lives in Paris.