Recently, the BBC slashed another 1,000 jobs. Viewership on US news networks like Fox, CNN and MSNBC has dropped 19 percent since 2009. Newspapers have cut more than a third of their workforce in the last 25 years.
The former Corporate Media audience isn’t abadoning the news. Just the opposite, they are moving to social media news. The majority of Twitter users (63 percent) and Facebook users (63 percent) now get their news from social media. Facebook now drives more traffic to news sites than Google. With nearly 1.5 billion users globally, Facebook clearly is in the position to become the largest news source in the world, along with Twitter and YouTube.
For more on this story, click Ryan Holmes article on LinkedIn. Facebook vs. Twitter vs. Snapchat: Who Will Win the News Wars?
Watch Mike Papantonio’s commentary on the death of corporate media: