China’s media landscape is changing at an unprecedented pace, thanks in part to the new technology and the aggressive investments of Chinese billionaire. From the media-business perspective, this is a particular form of technology journalism. “A successful innovation system is fundamentally dependent on the interaction and shared knowledge between different professions. Media is a major source of shared knowledge between these actors in the public, private and academic sectors.” (Nordfors 2004)
March 20, Baidu Company announced the cancellation of the news source database. It will cancel the original news source mechanism, and upgraded to VIP club. This is an important symbol of active change for innovation journalism, and means that the traditional news source of divided will be going to the era of free competition distribution.
The more important challenge comes from content competition changes. Into the mobile Internet era, the emergence of WeChat, Today’s Headlines and other content of business platform and the aggressive investments of Chinese billionaire both impact Baidu’s news source mechanism. Not only the advertising but also the original content has replaced the main source of income for newspapers and other journals in the 1990s.
Apart from the technology, the buying into media assets by business tycoons is also in line with in innovation journalism strategy. Journalism is a formidable actor in innovation systems (Nordfors 2004). Economists can benefit by including news media in their models because of the large volume of readers.
For instance, Jack Ma, founder and executive chairman Alibaba Group, has made the headlines after investing in both the social media platform Momo, Sina Weibo, the legacy newspaper South China Morning Post and the entertainment content producer China Vision Media.
- Nordfors, D. (2004). Why we need innovation journalism and where it may have a market. First Conference on Innovation Journalism, 204.
- BBC News 2016，Is China’s media tycoon Jack Ma the new Rupert Murdoch?, Ni,V, Britain, viewed 5 May 2016, < http://www.bbc.com>