Social and New Media Effect on New York Times Research

Social and New Media Effect On New York Times
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Social and New Media Effect On New York Times
Introduction
Advancement in information technology at the end of the 20th century and the beginning of the 21st century have presented various means of communication. The internet coupled with the release of innovative devices has revolutionized how people, institutions, agencies, and businesses communicate. Companies such as Apple, Google, and Microsoft, have contributed significantly to the development of software and tools that make communication efficient and more personalized. The events have also influenced how the mass media operate. Satellites and digitization of information have allowed international media groups that broadcast to all people around the world to emerge. News Stations such as CNN and Al Jazeera reach millions of viewers throughout the globe. Additionally, the internet provides an adequate avenue for streaming information to large populations. Availability of internet services even in remote areas has enabled people to assess information in real time. Social media sites such as Twitter, Facebook, and Whatsapp have millions of users from all parts of the world (Friedman, 2016). The sites can be used for social interactions as well as communication of critical corporate information to consumers. Suggestively, they have become important platforms for marketers and collecting customer data (Hasebrink & Jensen, 2015). While the social media and new media agencies continue to flourish under the new technological developments, the traditional source of information such as the New York Times is presented with new challenges
Randle (2001) reviews that the increased popularity and interactivity that has been made possible by the internet means that it is a new channel that media organizations must conquer for them to be successful. The New York Times has faced the situation by trying to capitalize on the internet without affecting their print paper readers and advertisers. Although more people are now accessing the New York Times via digital platforms, the increased use of smartphones calls for more ventures in visual journalism, including offering videos (Sullivan, 2016). Also, the new platforms provide new ways on how consumers offer feedback to information offered by the media. Subsequently, there is pressure to deliver news fast as a means of gaining a competitive advantage due to the increased competition in the sector. Sullivan (2016) writes that there is a danger in how news is delivered today. The speed and brutal competition between media houses are likely to come at the expense of accuracy. The phenomenon confirms reviews by Randle (2001), that the integration of print and digital media are a critical problem facing the communication industry today.
Situation/Trends Analysis
According to Harper (2014), technology is changing rapidly, making it difficult for corporations and the media to keep up. In the past, newspapers, businesses, governments, and other institutions had an easy time communicating because there were few alternative sources of information. Today, changes in the media and information trends are driven by the kind of technologies adopted by the target consumer (Randle, 2001). A new trend in the industry is that expenditure on traditional media such as the New York Times print unit is facing pressure as advertisers devote more resources to digital based media. Resultantly, the companies are forced to reduce the spending on content development as there is a need to satisfy the printed version consumers and advertisers. News providers are tasked with providing more visual information in multimedia technologies that include pictures, videos, diagrams, and audios
Most consumers have shifted their time and spending to digital platforms. The use of tablets and smartphones as better, and efficient devices that can multitask have increased, enhancing their release into the market. Readers are no longer contented with print, video, or any other form of medium to present information. Suggestively, the modern consumers are search driven and seek sources that they have control, public contribution, and high levels of interactivity (PwC, 2016). Resultantly, social media sites such as Facebook and Twitter have become a primary source of information. The news audience adoption of technology influenced by the convenience. From this perspective, the consumers want technologies that provide information with ease and high quality and at the same time being cost effective. The trend is evident in how people download mobile applications and the strong demand for high-quality devices such as the iPhone series of smartphones. The media efforts to move in unison with the changing technologies has led to an increased online presence. The New York Times has enhanced its online experience by acquiring the digital marketing agency from Science Inc. called HelloSociety (Vanian, 2016).
Business Implication Analysis
There is a need to reduce the cost incurred in developing content for the New York Times to remain profitable. This includes consumer spending, as well as shifting to the use of digital media. Consequently, the New York Times has taken a strategic move in acquiring HelloSociety to increase the company's revenue opportunity. Nevertheless, the company needs to come up with innovative means and devote more resources to digital platforms. Additionally, an active presence in social media promotes the visits in partner sites related to the company (Friedman, 2016). The consumer trend in using online platforms creates an opportunity for developing new business ventures that involve the creation of custom media, and marketing services.
Despite the increased use of the internet, many people face challenges due to the digital divide. Many people are low-income earners and live in the rural areas where these services are relatively limited. According to Cecilia (2016), 10 percent of Americans lack access to high-speed internet. Suggesti...