Edited by Filip Lau
The media industry is undergoing a seismic shift. In the U.S. newspaper advertising revenue plummeted 46 percent while European companies found new models by adding clubs and commerce. Book publishers are fighting over royalties for e-books and with Google over copyrights. Magazine publishers, crushed from a recession that destroyed a business model built on glossy ads, are licensing brands, adding e-commerce, and making sponsorship deals. Who’s on track?
For years people have been lamenting the death of newspapers—and have been offering all sorts of fixes to save them, from changing the copyright laws to keep online aggregators from rebroadcasting the news to encouraging newspapers to adopt the not-for-profit model.
Apps have become tokens of the future. Publishers need to become inventors of everyday science fiction.
What happens when you take a philosopher out of their element and plunk them into management? How can the business and tech worlds benefit from the humanities? Are we putting too much trust into algorithms and the promise of artificial intelligence?
You can change the world in three ways: You can revolt, you can vote for a party and hope the government will fix it, or you can work with the commercial world to work with them to make it better. All three are great means to change the world. We work mostly with corporations, not only to make them profitable but to make them more humane.
Michele Chang-McGrath talked to the FT's retail editor, Mark Vandevelde, about the recent woes of retailers.