Yule Heibel's Library tagged value → View Popular, Search in Google

Oct

2010

Facebook Is Worth $2.52, Twitter Only 43 Cents: Study | Fast Company

Fascinating:
QUOTE
A new attempt to answer the digital age's most burning question--whether social media drives sales--has also revealed an atonishing fact about Facebook and Twitter posts.

Sharing on Facebook is five times more valuable than sharing on Twitter, according to a new study.
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www.fastcompany.com/...r-vs-facebook-value-eventbrite

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facebook twitter value fast_company

May

2009

Why journalists deserve low pay | csmonitor.com

Christian Science Monitor opinion piece making the case that journalists aren't pulling their weight in creating value for readers/ consumers.
QUOTE
Wages are compensation for value creation. And journalists simply aren't creating much value these days.

Until they come to grips with that issue, no amount of blogging, twittering, or micropayments is going to solve their failing business models.
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Picard then divides his piece into three parts:"Where does value come from?" and "What are journalists worth?" with "Adapt or Die" as conclusion.

QUOTE
Robert G. Picard is a professor of media economics at Sweden's Jonkoping University, a visiting fellow at the Reuters Institute at Oxford University, and the author and editor of 23 books, including "The Economics and Financing of Media Companies." This essay is adapted from a lecture Professor Picard gave at Oxford. He blogs at http://themediabusiness.blogspot.com/
UNQUOTE

Excellent must-read article.

www.csmonitor.com/...p09s02-coop.html

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journalism csmonitor value robert_picard

One cannot expect newspaper readers to pay for page after page of stories from news agencies that were available online yesterday and are in a thousand other papers today. Providing a food section that pales by comparison to the content of food magazines or television cooking shows is not likely to create much value for readers. Neither are scores of disjointed, undigested short news stories about events in far off places.
If value is to be created, journalists cannot continue to report merely in the traditional ways or merely re-report the news that has appeared elsewhere. They must add something novel that creates value. They will have to start providing information and knowledge that is not readily available elsewhere, in forms that are not available elsewhere, or in forms that are more useable by and relevant to their audiences.
5 more annotation(s)...
- The total value is the value of content plus the value of advertising. However, advertisers don't care about journalism – only the audience that it produces. Thus the real measure of journalistic value is value created by serving readers.
- The total value is the value of content plus the value of advertising. However, advertisers don't care about journalism – only the audience that it produces. Thus the real measure of journalistic value is value created by serving readers.
- To comprehend journalistic value creation, we need to focus on the benefits it provides. Journalism creates functional, emotional, and self-expressive benefits for consumers. Functional benefits include providing useful information and ideas. Emotional benefits include a sense of belonging and community, reassurance and security, and escape. Self-expressive benefits are provided when individuals identify with the publication's perspectives or opinions, or when they're empowered to express their own ideas.
  
  These benefits used to produce significant economic value. Not today. That's because producers and providers have less control over the communication space than ever before. In the past, the difficulty and cost of operation, publication, and distribution severely limited the number of content suppliers. This scarcity raised the economic value of content. That additional value is gone today because a far wider range of sources of news and information exist.
  
  The primary value that is created today comes from the basic underlying value of the labor of journalists. Unfortunately, that value is now near zero.
- Moral philosophers differentiate intrinsic and instrumental value. Intrinsic value involves things that are good in and of themselves, such as beauty, truth, and harmony. Instrumental value comes from things that facilitate action and achievement, including awareness, belonging, and understanding. Journalism produces only instrumental value. It is important not in itself, but because it enlightens the public, supports social interaction, and facilitates democracy.
- Moral philosophers differentiate intrinsic and instrumental value. Intrinsic value involves things that are good in and of themselves, such as beauty, truth, and harmony. Instrumental value comes from things that facilitate action and achievement, including awareness, belonging, and understanding. Journalism produces only instrumental value. It is important not in itself, but because it enlightens the public, supports social interaction, and facilitates democracy.

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