What’s Wrong With The Media Industry?
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.
In this review of the most recent book by ReD Associates co-founder Christian Madsbjerg, Forbes contributor Michael B. Arthur provides a broad overview of Sensemaking, including theories about the concept from organizational behavior scholar Karl Weick. This is an excerpt of the review.
Michele McGrath talks to Helen Thomas, the Business Editor of BBC Newsnight, about the future of the British highstreet in this segment of the show.
Christian Madsbjerg discusses the ideas behind his book, “Sensemaking: The Power of Humanities in the Age of the Algorithm”.