"We have been at the forefront of that debate and you can confidently presume that we are leading the way in finding a model that maximizes revenues in return for our shareholders... The current days of the Internet will soon be over."
- Rupert Murdoch
Murdoch's frustration is that this silly Internet fad doesn't seem to be going away anytime soon, and the online monetization models aren't feeding him the mega profits that TV and newspapers once did.
That's because instead of the media elite holding all of the strings and controlling all of the content and distribution of that content, the Internet has given the power to the people to more efficiently and effectively spread content to reach a global audience. So what we have are more options when it comes to getting our news. A friend of mine has best described this phenomenon as the "Democratization of Media."
Murdoch has it backwards: it is not the current Internet models that are going to go away, it is the bloated, sluggish, models associated with traditional broadcast media. After all, do people still go to movie theaters to watch the news?
Viva the Media Revolution!