Former Forbes writer Michael S. Malone: "Let me make a prediction. Five years from now ...
... the blogosphere will have developed into a powerful economic engine that has all but driven newspapers into oblivion, has morphed (thanks to cell phone cameras) into a video medium that challenges television news, and has created a whole new group of major companies and media superstars. Billions of dollars will be made by those prescient enough to either get on board or invest in these companies. At this point, the industry will then undergo its first shakeout, with the loss of perhaps several million blogs - though the overall industry will continue to grow at a steady pace."
Reference:
Silicon Insider: Forbes Fumbles the Blogosphere
Does an Attack on Bloggers Signal the Dawn of Blogosphere-Dominant Media?
Steve Rubel is a PR strategist with nearly 16 years of public relations, marketing, journalism and communications experience. He currently serves as a Senior Vice President with Edelman, the largest independent global PR firm.He authors the Micro Persuasion weblog, which tracks how blogs and participatory journalism are changing the public relations practice.
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