Can Entrepreneurship Save The Press?
The press (i.e. journalism) is essential to our society. It’s how the public remains aware of what happens in our neighborhoods, in our cities, and across our country. It has become synonymous with the First Amendment, serving as the voice of the people in steady times and as the voice of democracy in times of crisis. Unfortunately, an unprecedented crisis in journalism has occurred, leaving thousands of journalists who've spent years reporting on the state of our towns, cities, and country laid off. Media conglomerates like Gannett, Verizon, BuzzFeed, Slate, and many more are restructuring their platforms, but most people don’t know how wide-reaching these efforts are nor the impact they have on smaller markets, where local news is the only gateway to the rest of the world. For decades, these companies have bought and monopolized local markets but did not adapt or innovate, leaving us here, with most of these job cuts hitting local markets the hardest and creating “news desserts”.
How does this tie into entrepreneurship? Spirited Media CEO and Founder Jim Brady owns and operates three local newspapers in Denver, Pittsburgh, and Philadelphia that rely on innovative methods of reporting and storytelling. His goal: to develop a more intimate relationship with a younger audience and to establish itself as a voice in the communities it serves. Spirited Media is just one example of how entrepreneurship is a multi-faceted sector and can focus on social impact.