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The shifting shape of news content in a digital world

Canadian communicator and philosopher Marshall McLuhan’s 1964 declaration that the medium was the message offered prophetic insight into today’s era of digital content.

To put a complex subject simply, the vehicle used to consume information determines not only how we read, but what we read. Insightful communicators know that content not devised for digital consumption, dissemination and discussion will be left behind.

Most editors realize the expanding role digital platforms play in broadcasting their message. Studies now suggest that more than half of Canadians consume news digitally. This number can only be expected to grow.

We have seen Canadian outlets, with varying degrees of success, try to bolster readership by displaying content on social media channels and improving readability on tablets and other devices. But communicators who view digital promotion and accessibility as ancillary to content creation miss the mark.

In an era where content is not only read online, but curated, presented and promoted through social platforms, concepts like shareability and interactivity must be part of the initial formula, not an afterthought.

Many news producers have struggled to adapt to this shifting landscape. It’s this dynamic that has allowed for the emergence of “media advocacy” groups like Ontario Proud.

Ontario Proud boasts over 350,000 Facebook followers, devising and sharing Facebook-friendly content, including videos, memes, polls and short statements, usually aimed at disparaging Ontario Premier Kathleen Wynne and Canadian Prime Minister Justin Trudeau. For context, its 350,000 followers substantially exceed the followers of all four Ontario provincial party leaders combined.

While Ontario Proud has been criticized for inflammatory content, its producers clearly understand that socialization must be at the heart of content. In response to Ontario Proud’s success, we have seen countervailing left-of-centre Facebook pages emerge in recent months, such as Ontario Pride and North99, both of which use similar tactics to create an opposing message.

Facebook’s display algorithm is not publicly disclosed, but we know it heavily promotes posts that generate strong reactions, positive or negative. As such, it’s imperative for organizations to reach their audiences in ways that trigger such responses.

This is not to suggest that credible news organizations should aspire to create content like that displayed on Ontario Proud. Canadians expect a much higher standard of accountability and truthfulness from news providers than social media advocates.

But the lessons learned from the success of Ontario Proud demonstrate that controversial positions are worth writing and are more likely to be virally discussed. Editorial boards have obligations to be accurate and fair, but not to be neutral.

Still, some would argue that the current landscape inherently favours vile, cruel and negative content that doesn’t contribute to positive discussion forums.

This is a fair observation, but ultimately raises more questions about the obligations of social media platforms than the merits of any specific content. If the recent appearance of Facebook CEO Mark Zuckerberg before the Senate Committee on Commerce, Science, and Transportation gave any indication of public sentiment, it’s that Facebook is not seen as a neutral information vessel, but a public space that people and organizations depend on. Principles of respect are expected and required to be enforced.

Necessary rules and restrictions do not have to conflict with the driving forces of social media content: shareability and buzz. Content can be created in a way that meets these principles without sacrificing the depth and veracity that set top news organizations apart.

For example, the New York Times, recently announced its 2017 subscription revenue exceeded $1 billion with over 157,000 new digital subscribers in its fourth quarter alone. Its success reporting on President Trump, a vocal critic of its content, offers a case study of how thoroughly-investigated stories can generate the strongest reactions, building relevance for online and social media use.

These circumstances are unique and what works for the New York Times will not necessarily be a universally winning formula. In a constantly-changing digital media landscape, the most sustainable practices remain unclear. And as organizations seek to adapt to the current landscape, many will fail.

But if the increasingly tribal nature of digital media tells us anything, it’s that organizations not looking to integrate socialization into content are firing at the wrong goalposts.

It’s time for communicators and journalists alike to accept that the medium is the message. And that medium is increasingly digital.

Views expressed are those of the author and may not represent those of Navigator or its affiliates.

Ontario’s Cannabis Plan

On this episode of Legalized, we explore Ontario’s proposed retail regime for recreational cannabis and the rules and regulations surrounding cannabis consumption in the province.
David is joined by Navigator Senior Consultant, Colin MacDonald; Will Stewart, Vice President Corporate Communications and Public Affairs for Hiku brands; and Aaron Salz, Founder and CEO of Stoic Advisory.

Views expressed do not necessarily represent those of Navigator or its affiliates.

Bitcoin and the rise of cryptocurrencies

Would you dig through your attic for an old hard drive if it had bitcoin on it? In this episode, we explore why Bitcoin and other cryptocurrencies have become so valuable and why Canadian investors are watching the space with interest. We take a look at new financial products being built around these cryptocurrencies now arriving on the scene – ETFs, futures contracts, trust funds, and new vehicles for investing in blockchain technologies. Find out why Canada could beat the United States in bringing regulated bitcoin products to market.

 

Our guests for this episode:

  • Karsten Arend, President, Just In-Genius Inc.
  • Karl Cheong, Head of ETFs, Canada (exerpt below)
  • Shidan Gouran, President, Global Blockchain Technologies
  • Elliott Johnson, Chief Operating Officer, Evolve ETFs

 

Views expressed do not necessarily represent those of Navigator or its affiliates. 

A portion of our discussion with Karl Cheong is transcribed below. Subscribe here to have the Navigator’s latest insights delivered right to your inbox.

Clare:  You had mentioned earlier that there are some challenges both here in Canada with the OSC and with the U.S. Securities and Exchange Commission looking at these Bitcoin ETFs and not sure what to do with them. Will we ever get to a point where there’s a real chance these products come to market and if they do what does that mean?

Karl: Yeah. So I do believe in every asset class I have ever seen whether it be gold or equities and real estate, if there is enough demand by the public it will be made available in some form. We’re already seeing some form of access to Bitcoin via over-the-counter trusts. Just because there is no Bitcoin available right now, there’s one in the U.S. I’m thinking of in particular G BTC that trades in the over the counter market. So it’s an exchange traded fund but it’s not exactly like an ETF in a sense that it trades at a 55 percent premium to the net asset value of the product because you cannot create in redeem shares. But if an investor wanted to go on an online account they can get access to the Bitcoin price by paying a huge premium to do so. And so that’s why I feel the ETF will make it far more efficient for the everyday investor to get access to a burgeoning asset class.

Now I would say though you know the timing is going to be a bit tricky. When I first started talking about this I thought it was going to be by summertime, given the demand and what we saw. And and we have filings that have been in the market place for over three years four years with the Winklevoss twins being the first to file. So I feel they’ve been working with regulators and they’re going to need to continue and educate and address these concerns. I would say it’s probably going to happen in the next three years. But that’s kind of … I don’t have the crystal ball. And obviously regulators will do the necessary homework they need to on this product. But as it becomes more of a utility in society and you see more companies accepting crypto currencies,  you’ll see others like you know Kodak, for example, they’re creating their coin that they can pay others and remittances in other areas. I feel this this whole blockchain and Bitcoin concept can really disrupt many and it becomes more everyday usage. You’ll see a product eventually.

Clare: Yes exactly. And you know what the regulators have been okay with, we saw back in February the OSC approved Canada’s first blockchain ETF. Is that a different way to go, is that is that a better way to go right now. And why do they think that’s a that’s a better product or a product that has less uncertainty than say a Bitcoin ETF.

Karl: So we also launched a Bitcoin ETF last Friday and so I expected less red tape with blockchain ETFs. There are several in the U.S., there’s a few here in Canada now because it’s investing in the underlying securities. And so I’ll give you a few examples of companies that we hold in our blockchain ETF that you wouldn’t necessarily affiliate blockchain with the name. We hold companies like IBM. IBM, if you go onto their website I’m sure you’ve heard of software as a service, you would see something on the website called blockchain as a service. So they’re enabling other companies to use the blockchain technology in the one example I’ll give you as they’re partnered up with Wal-Mart for a pilot case study on how to track food and produce. They have this one example regarding a bad crop of mangoes. Wal-Mart went through their normal processes to try to identify the farm it came from to avoid you know food recalls and borne illnesses for example. And it took them about six and a half days to actually track that down via phone calls and other methods that they traditionally have. Wal-Mart partnered up with blockchain and within a consortium and it’s really important to distinguish blockchain could either be public which is the crypto currencies or private and in this case it was a private blockchain, Wal-Mart had all its suppliers on this blockchain. There’s no mining or what not. Everyone knows who everyone is on this blockchain it’s just an open ledger that’s verified by one or two people. So in this case Wal-Mart entered into a bar called of the mangos and identified where that farm was within 30 seconds. Right. And so you can see the time in efficiency and cost that this technology can produce.

Over time it will be something like, I think like what we saw with cloud computing and Amazon. So very early on Amazon in 2011 started investing in the cloud. We all had high hopes that it would be a great business line for them. Today, fast forward web services is a significant part of their overall revenue and contributor to growth. So the way we have seen the blockchain ETF come to market because they’re playing it more pick and axe, you know think about like way back when in the 90s many people wanted access to the internet and the only company available for purchase was AOL right. And so you know I liken it to that period because right now you have certain blockchain companies that haven’t been a blockchain company for very long. They’ve changed their name in some cases to avoid getting delisted and some of them kind of very eerily reminiscent to the dot com era. And so with these products that are coming to market including ours of course, we are screening through and ensuring that you’re getting leverage to the blockchain exposure but we’re investing in infrastructure, in companies that have the resources to to build in this technology. RBC for example and Goldman Sachs that use this technology but you know it’s too early stages right now because there’s no one line item that shows blockchain revenue and that’s the challenge of creating portfolios so most of us are creating it via indirect exposure.