This article selected for this review relates to the course in that it highlights the digital platform with reference to digital news outlets and the reckoning that they stand to face. It is thus a form of revolution for the digital companies that are undergoing a period of uncertainty and the harsh reality of a diminishing market. The article presents an idea regarding the new media environment, expounding on how various changes in the digital world affect many of the companies operating in this climate. This is concerning how digital media are set to undergo a winter that will see them run into many problems and lose a lot of revenue.
Initially, many people thought that the digital native companies were not the same as their print counterparts but the truth is quite different. They are encountering almost the same problem, whereby tech giants have swallowed up the market and have a large share that is driving digital companies almost to extinction. For instance, Buzzfeed and Vice were soaring high before Google and Facebook took the market by surprise (The Economist, 2018). Now, the two digital companies are set to lose revenue as well as lay off many of their workers because of a considerable reduction in the number of clients and revenue. The tech giants Facebook and Google rule the current market in various ways. For instance, they are dominating in the field of the servicing and selling of ads. Additionally, they also acquire a cut from the sales made by the publishers as well since as tech giants, they have created a platform where the advertisers bypass the publishers, spending on their platform directly.
This idea will prove technologically influential as it will stir the digital and print companies that are almost going extinct to embrace new technology that may help them salvage their companies as well as acquire new clients. As the article highlights, the duopoly of two giant companies is causing a stir in the digital world and almost driving other companies to extinction by curtailing their ability to generate revenue. On the other hand, digital companies will also disrupt the social order as they seek to lay off many of their workers because of the lack of funds. The subsequent changes will also stir up the country’s economy, as the revenue generated by many of these companies, was essential to the economy of the entire nation (Jarvis " Stephens, 2014). In this regard, the political class may decide to implement policies that will help avert additional losses for these companies.
The duopoly of the media giants Facebook and Google has positioned them to acquire the largest share of the digital ad sales market. They have taken the majority of the market and made many publishing companies go out of business (Pickard " Williams, 2014). However, publishers are trying to remain relevant by getting users to remain in their sites to allow the companies to profit from this relationship. Additionally, advertisers continue selling merchandise to visitors even though advertising provides the most of their revenue. New strategies are necessary for operating in the changing digital market to ensure that the various companies that exist outside the duopoly remain relevant. Companies have realized this and have established new strategies meant to help them generate profitable sponsorships. Even though these firms are not in a position to generate billions of dollars, the new strategies are helping them stay afloat in a market currently under the duopolies of Facebook and Google.
References
Jarvis, S. E., " Stephens, M. (2014). Gate-keeping and news-seeking in print and online outlets. The language of public sphere: Computational research with DICTION, 224-243.
Pickard, V., " Williams, A. T. (2014). Salvation or folly? The promises and perils of digital paywalls. Digital journalism, 2(2), 195-213.
The Economist. (2018). Digital news outlets are in for a reckoning [Blog]. Retrieved from https://www.economist.com/business/2017/11/30/digital-news-outlets-are-in-for-a-reckoning
