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May 12th, 2010 by Steve

A new media coalition too?

Yes we have a new Government.

Forget all that though. What have the past few weeks meant for the future of media in the UK?

Given the down with Brown barbed vitriole of yesterday’s print media front pages and the broad yet tepid ‘dawn of a new era but with a big pile of stench to deal with‘ headlines this morning, it looks like the press has had a nervy and uncomfortable time of covering the UK’s General Election.

As Peter Kirwan’s excellent article in Wired illustrates, even The Sun, the infamous swinger of the polling stations, has had to do a lot of soul searching over who it backs and how it does it (and how it does it plausibly). Gone, probably, are the days of the election being the ultimate muscular demonstration of the so-called power of the press.

There was, inevitably, much online chatter during the campaign about the role social media would play in determining the new Government, ranging from analysis of what was most Twittered during the keyboard frenzy of the televised leader debates to some frothy hype around quite how influential certain online influencers might be.

What does this mean for the media in the future? Well, I’m sure the national newspapers will do an internal post-mortem of their stance, their main headlines and their editorial/leader columns today. And whatever conclusions are reached, one thing is clear: the sway they have commanded over previous elections is diminishing.

New forms of media are gaining influence – that goes without saying. What conventional media needs, in my view, is not to go all-starry eyed over social media but realise that the expectation of many readers is now that there will be some kind of meaningful dialogue with them. In social media terms, the papers must join the conversation rather than trying to dictate it, albeit that it will always both form a view and needs to ensure that its editorial is respected.

Conventional media, as the election highlighted, needs to get to grips with online conversation. It’d be like a coalition with new media: maintaining its brand equity, editorial integrity and publisher priorities while at the same time engaging with readers directly.

Proper engagement too, rather than pictures of attractive teenage ‘readers’ giving their gushing views on a leader, or a few terse letters to the editor that may not have been generated externally.

May 10th, 2010 by Steve

National deficit: spin worn thin yet markets dim

Many media commentators pointed out throughout the UK’s General Election build-up that none of the main parties talked much about the pain that would result in the coming years from slashing spending to cut the national deficit.

There is, of course, a reason for that: misery is not the world’s best sales message.

Any voters with half a clue knew that that sort of drastic action was and still is inevitable; it just wouldn’t have won votes to rub our noses in it during the election campaign. Instead, the whole issue was neatly sidestepped as the leaders focused on other issues, parking the issue of the Age of Poo for the post-victory era. A sound PR approach, if winning the election is your objective.

Now, with the election done and the parties playing a waiting game, issuing holding statements to fend off nervousness while the formation of Government is eeked out behind closed doors, it is clear that the spin over the deficit has worn more than a little thin. Austerity is staring us in the face.

Which makes the way the markets have responded to uncertainty over who will govern look even more fickle.

Media coverage over the weekend about the tumbling pound and why the markets won’t wait for an election outcome just makes the financial markets look juvenile.

Yes the electorate also wants decisive Government to get on with tackling the deficit. But we haven’t had one for months, so what does an extra few days matter?

Yes the new Government needs to crack on straight away with tackling the deficit and not enough was said about that during the election campaign. But City people, wake up: that was the PR (not) talking.

Yes Government will have to suffer massive unpopularity to get all of this done. But we voted them in, kind of, more-or-less, in a round-about way. Subject to contract.

Already today, the looming likelihood of a Conservative/LibDem coalition is seeing the pound recover slightly. Good news, but yet more fickleness from markets swayed like toddlers with information taken at face value, rather than pausing to think about the bigger picture.

April 16th, 2009 by Steve

Embattled media, a political sledgehammer and still no real answers

Digital Britain, the Government’s plan for a media and communications uplift that will spur the economy, must first secure legislative changes to enable media consolidation, according to today’s Times.

Would the Government look to sledgehammer legal tweaks through Parliament ahead of a General Election to increase voter favour? Surely not.

Would media companies benefit from all of this by being freer to use consolidation and restructuring to help them out of some very dark holes? Surely yes.

Could this lead the UK’s media into a panicked period of change that dilutes its standing, does not materially enhance content quality and does not tackle the fundamental challenge of digital media’s power? Draw your own conclusions.

I understand the shenanigans and the timing. What I still don’t understand is why media companies – in my experience run by some of the shrewdest businesspeople out there – don’t spend a lot more time getting digital properly under their wings and a lot less time asking others for help. Consolidation may be the only option for some, but modernisation has to be the watchword of the majority.article6101626.ece?&EMC-Bltn=OLV9IA