Tags: newspapers | media | Madison Avenue | Andreessen

Internet Pioneer Andreessen: News Industry to See Exploding Growth

By    |   Monday, 03 Mar 2014 01:35 PM

Internet visionary Marc Andreessen, venture capitalist and founder of the Web browser, sees a renaissance in journalism, and believes the news business could grow 1,000 percent from its current state.

That would be a huge reversal for the news industry, which has seen itself shrink dramatically in recent years in the face of Internet content innovators like Facebook, YouTube and Twitter, not to mention the Google, Yahoo and Craigslist juggernauts that vacuumed up huge swaths of traditional publisher ad revenue.

But Wired reports that in Andreessen’s assessment, the quantity of news consumed thanks to the Internet is growing even faster than the quantity of news being produced. Demand is exceeding supply.

“I am more bullish about the future of the news industry over the next 20 years than almost anyone I know. You are going to see it grow 10X to 100X from where it is today. That is my starting point for any discussion about the future of journalism,” Andreessen declared on the Web site for his VC firm, Andreessen Horowitz.

“For better or worse (and maybe both), print journalism is converging in technique and quality towards blogs and Wikipedia.”

He said in the previous industry hierarchy, newspapers, broadcasters and magazines enjoyed a virtual monopoly on the news business, but that inefficient system has been dismantled by the Internet.

“At the same time, the market size is dramatically expanding: many more people consume news now vs. 10 or 20 years ago. Volume is being driven up, and that is a big, big deal. Market size equals destiny. The big opportunity for the news industry in the next five to 10 years is to increase its market size 100x AND drop prices 10X. Become larger and much more important in the process.”

Wired reported that Om Malik, a venture investor and founder of the tech news site GigaOm, shares some of Andreessen’s conclusion that there is plenty of potential upside for the media industry.

“The business of news is still in the dark ages… mired in the systems of the past,” Malik said. “The intellectual makeover of Madison Avenue hasn’t even started yet.”

© 2017 Newsmax Finance. All rights reserved.

 
1Like our page
2Share
StreetTalk
Internet visionary Marc Andreessen, venture capitalist and founder of the Web browser, sees a renaissance in journalism, and believes the news business could grow 1,000 percent from its current state.
newspapers,media,Madison Avenue,Andreessen
353
2014-35-03
Monday, 03 Mar 2014 01:35 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved