Media here feel like they're under attack. It's not just from the politicians that they attack, but it's part of the worldwide wind-down of all legacy media -- characterised locally by the struggles of Stuff and Newshub, and the demise of Today FM.
American commentator Ted Gioia sees it as part of a worldwide battle between "macroculture" (where we all used to watch the same television shows as our neighbours) and the increasingly dominant "microculture" that's destroying it. He reckons that the battle has already reached a tipping point, and in 2024 it will turn into a war.
Take this comment from payment processor Stripe, showing that while legacy media is dying, alternative media platforms continue to explode:
In 2021, we aggregated data from 50 popular creator platforms on Stripe and found they had onboarded 668,000 creators who’d received $10 billion in payouts. We refreshed that data in 2023 and found something surprising: the creator economy is still growing about as fast as it was in 2021. Today, those same 50 creator platforms have onboarded over 1 million creators and have paid out over $25 billion in earnings.
According to a recent survey by the News Media Association, 90 per cent of editors in the United Kingdom “believe that Google and Meta pose an existential threat to journalism”
All this while streaming services and major newspapers enforce layoffs, Disney claims that "AI will be advanced enough" soon to "never bother with [actors or writers] again," and Hollywood itself seems in freefall.
They've forgotten how to learn, he reckons.
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