Memo to media: Supply and demand are out of your hands

Too many media giants are happy to have a little disruption, provided it doesn’t change the supply-demand equation they have always relied on. But the reality is that this equation has already been blown to smithereens, and they had better figure out how to adapt.

Facebook data: Thousands of journalists now have a Subscribe button

According to Facebook, reporters have been especially receptive to the Subscribe button feature launched in Sept. 2011. The number of journalists who have enabled the subscribe button is now in the thousands, and the average journalist has seen a 320-percent boost in subscribers since November.

YouTube shows Silicon Valley how it can beat Hollywood

YouTube’s announced new viewership milestone today, with more than 4 billion video views daily. That’s impressive, and more importantly, shows how YouTube could serve as a blueprint for other technology companies that wish to create an alternative to the existing media industry.

Ombudsman’s gaffe is a sign of deeper problems in media

The firestorm of criticism that erupted over the New York Times public editor’s question about whether reporters should be “truth vigilantes” is a sign there is still a huge gap between what the mainstream media thinks its job is and what readers think.

Today in Social

Mathew Ingram does a good job running down how Apple’s changed the media industry since the iPod. Remember when the iTunes tagline was “rip, mix, burn?” The record labels weren’t too happy with that particular line. But the iPod wouldn’t have flown unless customers already had big collections of MP3s, regardless of how they were acquired. ITunes sales came later. By the time Apple went into the bookselling business, it was firmly on the side of the publishers. Amazon’s the one that was disrupting them with loss-leader $9.99 best sellers. But never forget: Pixar was a hardware company when Jobs took over. Jobs said to me once, I think it was during the NeXT era, “David, you’re not listening.” No, Steve, we were always listening.

Today in Social

Nielsen has released its report on the state of the social media industry in Q3, a snapshot of traffic data and some survey stats. Om points out the headline: Facebook soaks up more U.S. users’ time spent online in May than any other property by a pretty huge margin: more than three times as much as its nearest competitor, Yahoo. More time in fact, than Yahoo, Google (minus YouTube, I think), AOL and MSN combined. Nielsen calls out Tumblr as an emerging social player, based on its user growth. Other tidbits include: more women than men use video at social media sites, but men use more of it. And mobile phone users say they value mobile social media access more than web browsing or games (though less than GPS). Facebook is still a little mired in low-cost ad inventory, but the combination of a social media marketing ecosystem that’s getting stronger and its own efforts to expand into richer brand advertising should help remedy that. The report highlights are here, and you can download or view the presentation here.