Speaking at the first international online publishing conference hosted in London at the start of this month, Reuters chief executive Tom Glocer sent out a stark warning to ‘traditional’ media bodies not to act as a ‘choke-hold trying to close the digital pipe’.

In the face of what is being called ‘Web 2.0: the second coming of the internet’, Glocer championed the importance of embracing new media, whilst not letting it close its grip too tightly. He advised that high-quality editing was essential in order to provide worthwhile consumables and services for an increasingly media savvy audience. ‘Just because everyone has the potential to produce their own blog, doesn’t mean they’re all worth reading.’

This is particularly pertinent with the realisation that the sector continues to diversify and compartmentalise itself, making broad market-targeting even more difficult. In 2005, for example, 3,366 different consumer magazine titles were published marking an increase of around one third over the
previous decade.

‘Old media’ companies need, therefore, to rise to these challenges and negotiate their role accordingly. For Glocer, that means becoming a ‘facilitator, tools provider and editor’ of information rather than jumping on the new content bandwagon.
Almost on cue, industry body the PPA published research showing that around 83 per cent of managers in UK businesses recommend good professional and business publications as a way to stay up to date with sector changes.

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