the financial crisis, networks and future of news
DESCRIPTION
“The Financial Crisis, Networks and Future of News”Rolf Rosenkranz, Editor, The Development Executive GroupThe global economic downturn reminds us how important it is to share information and coordinate actions globally. The news media may help if it functions as a platform for trusted experts to exchange in-depth views and ideas.TRANSCRIPT
![Page 1: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/1.jpg)
![Page 2: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/2.jpg)
The financial crisis, networks and the future
of news
Rolf Rosenkranz
Editor. Devex
ICGFM conference. Miami. 5/19/09
![Page 3: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/3.jpg)
The problem• Downturn in global growth
• Decline in commodity prices
• Tightening of credit
![Page 4: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/4.jpg)
Francis Fukuyama
![Page 5: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/5.jpg)
Why?• Asset prices rising unsustainably
• Debt resulting from prolonged credit expansion
• Inability of regulators to keep up with new financial instruments
![Page 6: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/6.jpg)
![Page 7: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/7.jpg)
The mediaIFAD. EU Financial Crisis News. Crisis Talk. IMF’s Public Financial Management blog. Economist. OECD Observer. Financial Times. Inter Press Service. Devex.
![Page 8: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/8.jpg)
Coverage• USA: no credit for Dr. Doom
• South Korea: trial vs. “Minerva”
• Russia: “We do not have it”
• NL: “Withdraw cash from ATM machines while you can”
![Page 9: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/9.jpg)
![Page 10: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/10.jpg)
Ignorance. Lack of access. News grind.
Cause + effectIgnorance. Desensitization.
Mistrust. Fear.
![Page 11: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/11.jpg)
Pew: Bleak economic outlook causes U.S. to…
Sept. Oct. Dec.
Cut back vacation spending
48 % 59 % 62 %
Change savings or investments
39 % 48 % 60 %
Adjust retirement plans
23 % 26 % 32 %
![Page 12: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/12.jpg)
Pew: Understanding the economic situation
Very well
Fairly well
Not well
Total 24 % 49 % 27 %
Men 30 % 50 % 20 %
Women 19 % 48 % 33 %
![Page 13: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/13.jpg)
Pew: What the U.S. public knows
Gov’t wants banks to… (lend more money)
83 %
Who holds most U.S. debt (China)
71 %
Timothy Geithner’s job (Treasury sec.)
58 %
Current unemployment rate (ca. 8 %)
53 %
![Page 14: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/14.jpg)
“Considering the wall-to-wall media coverage of the financial crisis, it is startling to see how few Americans have a grasp on
the most basic economic facts.”
-- James Bowers. managing director.
Ctr. for Economic & Entrepr’l Literacy
![Page 15: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/15.jpg)
News coverage milestones
• August: U.K., Japan and others enter crisis mode
• October: Iceland financial crisis
• April: London G-20 summit
![Page 16: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/16.jpg)
![Page 17: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/17.jpg)
Media trendsConcentration. Privatization. Ad wars. Less collective bargaining. Pay decreases. Generation shift. New media. Decreasing quality.
![Page 18: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/18.jpg)
Information = news
Media = press
![Page 19: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/19.jpg)
Audience segment: Traditionalists
• 46 % of the public
• Older, less educated, less affluent
• Heavy reliance on TV news
• Strong interest in weather
![Page 20: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/20.jpg)
Audience segment:
Integrators
• 23 % of the public
• Middle-aged, well-educ., affluent
• TV is main news source, but regularly online
• Strong interest in (political) news
![Page 21: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/21.jpg)
Audience segment:
Net-newsers
• 13 % of the public
• Relatively young, well-educated, affluent, male
• Read political blogs > watch network news
• Strong interest in tech news
![Page 22: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/22.jpg)
2008 U.S. TV news coverage
• Pres. elections (ca. 3,700 mins)
• Economy (ca. 2,800 mins)
• International coverage (1,900 minutes)
-- Tyndall Report
![Page 23: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/23.jpg)
International coverage on U.S. TV
• Iraq: 244 minutes (88 from Iraq)
• Beijing Olympics: 236 minutes
• Afghanistan: 126 minutes
• Sichuan earthquake: 119 minutes (94 from China)
-- Tyndall Report
![Page 24: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/24.jpg)
Pew: Foreign news coverage online
• 27 % of total news
• Key topics: Pakistan, Israel-Palestinian Territories conflict, Zimbabwe elections
• Press: 17 %
![Page 25: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/25.jpg)
Foreign coverageOverseas bureaus closing. Reliance on wire services. More freelancers. More competition. Parachute journalism. Multimedia. Time pressure. Global audience.
![Page 26: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/26.jpg)
Journalism’s cardinal sins
• Publish easy-to-gather stories
• Select safe facts and ideas
• Provide “false balance”
• Give audiences what they want-- Nick Davies, author, “Flat Earth News”
![Page 27: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/27.jpg)
“News organizations will have to do more than adapt to changing technology; they will have to solve their economic problems in a manner that will benefit their customers.” -- Stuart Loory, editor, Global Journalist
![Page 28: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/28.jpg)
Winners?Trade publications. Bloggers. Software developers. Mobile
phone companies. Consultants. Nonprofit media. GlobalPost.
Content sharing. Pay-per-view. Custom-tailored news. Google.
![Page 29: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/29.jpg)
ONA: Online journos optimistic
• 54 % say journalism heading down wrong track
• 57 % say Internet is changing journalism values
• 82 % are confident profitable business model online will be found
![Page 30: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/30.jpg)
News sought onlineWeather. Science & health. International. Technology.
Business & financial. Politics. Sports. Entertainment. Local.
![Page 31: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/31.jpg)
Social media
![Page 32: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/32.jpg)
Blogs• South Korea
(92 % read, 72 % write)• Philippines
(90 % read, 65 % write)
• France (78 % read, 31 % write)• Canada (56 % read, 22 % write)
-- Universal McCann
![Page 33: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/33.jpg)
Online communities• Philippines (83 %)
• Brazil (75 %)
• China (64 %)
• United States (43 %)-- Universal McCann
![Page 34: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/34.jpg)
Social media:
The business case• Mass media
• Creative consumer
• Viral marketing
• Human touch
![Page 35: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/35.jpg)
Credibility
![Page 36: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/36.jpg)
Networks• Public Expenditure Management
Peer Assisted Learning Network
• Jordan Professional Communities
• Devex
![Page 37: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/37.jpg)
100,000 develop
ment projects
1 million developm
ent professio
nals
200 major donor agencies
![Page 38: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/38.jpg)
![Page 39: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/39.jpg)
She needs a filter
![Page 40: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/40.jpg)
![Page 41: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/41.jpg)
![Page 42: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/42.jpg)
![Page 43: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/43.jpg)
We’re learning from…
![Page 44: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/44.jpg)
Network science“the organized knowledge of networks based on their study
using the scientific method”-- National Research Council
![Page 45: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/45.jpg)
Cesar Hidalgo
![Page 46: The Financial Crisis, Networks and Future of News](https://reader033.vdocuments.net/reader033/viewer/2022061118/545bea85af7959b4098b459e/html5/thumbnails/46.jpg)
Worlds apart…
United States
Kenya