Stephen Dubner realized at the NYT that traditional media already prospered by carving out specific audiences and feeding them aligned content. Social media is not a new phenomenon in this regard; it is merely a technological acceleration of a pre-existing, market-driven journalism model.
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According to Van Jones, cable news has pivoted from breaking news to manufacturing conflict. The primary goal is no longer live reporting but creating contentious segments designed to be clipped and go viral on social media, fundamentally changing the business.
The primary function of cable news has shifted. It no longer breaks news but instead produces segments specifically designed to be clipped and go viral on social media platforms. Its main impact is now on the broader internet conversation, not its direct viewership.
The old digital media strategy of rapid scaling via social platforms failed because those audiences were not truly owned. They belonged to Google and Facebook, exhibiting no loyalty to the media brand itself. The new focus is on building direct, dedicated audiences.
Gary Vaynerchuk argues that platforms have evolved beyond a follower-based model ("social media"). Now, algorithms dominate, creating an "interest media" landscape where content is surfaced based on a user's demonstrated interests, regardless of whom they follow. This makes the content itself paramount over follower counts.
Even though anyone can create media, legacy brands like The New York Times retain immense power. Their established brands are perceived by the public as more authoritative and trustworthy, giving them a 'monopoly on truth' that new creators lack.
Freakonomics' Stephen Dubner argues the NYT has evolved from a paper that presented new information into one that curates a few key topics daily and prescribes a specific viewpoint on them, a change he finds less valuable as a reader.
The primary consumption of news has shifted from destination sites to algorithmically curated social feeds. Platforms like Threads and X have become superior curators of content from legacy sources, personalizing discovery so effectively that users now rely on them to surface relevant articles, bypassing the publisher's own homepage.
Algorithms increasingly serve content to non-followers based on their interests, not just social connections. To succeed, marketers must shift from engaging existing followers to creating "recommendable" content that appeals to a broader, topic-focused audience.
Despite declining viewership, legacy media institutions like The New York Times and Washington Post remain critical because they produce the raw content and shape the narratives that fuel the entire digital ecosystem. They provide the 'coal' that other platforms burn for engagement, giving them unrecognized leverage.
The promise of new media was to foster deep, nuanced conversations that legacy outlets abandoned. However, it is increasingly falling into the same traps: becoming predictable, obsessed with personality feuds, and chasing clicks with inflammatory content instead of pursuing truth.
