Which industry is poised to be a leader rather than a laggard when the economy rebounds? Media.
That's the view of Michael Mandel, chief economist at BusinessWeek, who gave a luncheon keynote earlier this month at the ABM Executive Forum. “If I'm here two or three years from now, we could be talking about a media boom,” he said.
The media business is being transformed by Internet technology that dramatically lowers the cost of distribution compared with legacy print production and mailing. “In the long run, lower costs are good for any industry,” Mandel said.
In addition, he said, “There is a real need for information that will aid decision-making, especially in this economy.” The real opportunity is for journalism to be “integrated with something else,” such as social media, data or education, he said. M