Vey: Those are two different questions: making an impact and making a profit. I don't want to speak for the CEO or the CFO but getting advertising wasn't the most important thing for me when we were starting up, it was establishing credibility and readership and a stable core of freelancers who got what we were trying to do ... You can't sell anything if you don't have anything to sell
Ingram talks about how the model used to be you go to journalism school, and then they go get a job at a big media company. The question back then: Why would you teach them entrepreneurship? Schools are now looking at changing ways of teaching.
Boutet: Certainly what large news organizations could be doing is promoting that start-up mentality ... in their own news organizations. Move away from that top down boardroom style of direction.
Ingram: I think there's a lot of potential for partnerships (with start-ups), where there wouldn't have been with the old media model.
Q&A time: via Twitter: What kinds of changing see in digital strategy with new ownership with Bell Media?
Taylor: So on Friday we changed the name to Bell Media, then also on Bell Mobility six channels launched. If we weren't in a mobile space before, we're in a mobile space now. The digital strategy has been evolving before Bell came in. The watershed moment was the Olympics, there was a real change in our company's culture at the 2010 games. All of the sudden there was a aha moment about digital. We can transition from a broadcaster to a media company ... that's led to this vertical integration that's defining our future.
Audience question: Thoughts on augmented reality or apps like Layer, content overlayed on a location?
Ingram: Look at one of the things Google goggles ... that kind of thing is actually hugely useful if you travel to places that you don't know a lot about.
Moderator: What about using [an app like that] it in the newsroom?
Ingram: Definitely a possibility, it's information.
Q from Twitter: Is the news media overstaffed for the global age?
Angus: We just laid off 650 people, a quarter of the staff of the staff at BBC World Services. But that's a funding issue.
Angus: To be credible as a national broadcaster, you have to have credible content, and in order to do that you have to have critical mass of people on the ground
Q from audience: The question is from 2011 are we seeing much citizen generated content on election, and is social media being a reporting tool for citizens?
Vey: Open File is specifically asking for that this time around. Please write to us and tell us what questions you want us to ask. That's something we're going to be hitting hard. Usually that's something that gets ignored, the pundits and the pollsters get their say (but others are ignored).
Boutet: I think there's still some trust issues with mainstream media and community sourced media
Vey brings it back to citizen involvement, saying that it's still very early days ... With the number of politicians on Twitter, she thinks a number of spats will break out. "I think it's going to be a lot of fun"
Majority of panelists say the use of Google news vs. searching a specific news site isn't about mistrust; it's about efficiency and ease of searching. But Ingram says there is some feeling of distrust, see number of sources that are available think now there are all these other sources, and in some cases you may have experienced a story where you know something about it and realize your favourite media outlet got it wrong.
Ingram: With social media the risk in particular is that you find one blogger, or two bloggers, or one person where your world view fits their world view and they become your source of info. Start focusing on people that are preaching to one choir, or your particular choir. Are people just searching for things they want to hear?
The panelists ask Angus about television detector vans (they exist!). He responds that they cost 142.50 pounds per household for TVs. It now applies to computers that can stream live video, as well. "It seems like an old world view of funding the BBC, but nobody can think of a better one"
And that closes the Q&A period for the Future of Media. Prize time! Hope you enjoyed the event as much as we did.