As startup local news organizations launch, geo domainers are well positioned.
CNN published a story yesterday titled Future of online news may be ‘hyperlocal’. The story discusses the crop of news sites popping up to fill the void not addressed by traditional media and the void left when local newspapers disappear.
Geo domain owners are well positioned to take advantage of both the fall of traditional media and “hyperlocalization”. It was one of the key themes at the 2009 GeoDomain Expo. The article mentions former newspaper writers forming online news startups such as the Seattle PostGlobe. One of PostGlobe’s writers spoke on a panel at GeoDomain Expo.
As I survey the business opportunity in the wreckage of the local newspaper, I’ve realized that trying to do what the traditional newspaper did — be everything to everyone — is not the way to go. The goal should be to focus on a particular niche of news, even if it’s for just within one city. In fact, I’ve been hatching a startup idea over the past few days that will do just that.
(Thanks to Domain Capital for the tip.)
M. Menius says
There is a big void coming in local news as papers dissolve. News content may be different compared to the style most people have become accustomed to. Look at iReport and similar in-the-moment approaches.
Someone will fill this void. I think we’ll see a number of startups, not just one vying for many local markets. A concern is that publishing “real news” requires reliable sources of information and a certain objective eye not tarnished by personal politics, i.e. journalistic integrity.
By the way, it’s somewhat harder to come by this today than it was decades ago. The “integrity” part means the objectivity stays intact despite what advertisers may try to dictate.
While I agree with the “hyperlocal” aspect, publishers may find that their audience is receptive to more than just local news. Local seems a relevant launch point.
Pete Kosednar says
I have full access to all the major local sources. The local news media have been very nice to me. One local tv journalist contacts me for news story ideas!