Tomorrow evening, the MIT Enterprise Forum of NYC will present a panel entitled ‘Hyperlocal News: A New World of Journalism, Sustainable Business Models, and the $30B Local Ad Market.’
Hosted and sponsored by The New York Times, the panel is being moderated by Beacon Trust’s Stephen J. Balog and boasts a strong line-up of speakers:
- Mark Josephson, CEO, Outside.in
- Jim Schachter, Associate Managing Editor, The New York Times/NYTimes.com
- Michael Shapiro, Founder and CEO, TheAlternativePress.com
- Warren Webster, President, Patch Media
According to the MITEF, the panel aims to address the ever-changing business of journalism and media via the lens of hyperlocal news:
With the steep decline in advertising revenue for hard copy newspapers and increase in expenses, the world of journalism is undergoing massive changes in short order including the advent and surge in hyperlocal news. As everyone from the largest of media companies to independent local hyperlocal news sites seek to capitalize on the $30B local advertising market, which hyperlocal business models are succeeding and why? How will hyperlocal news change the world of journalism?
The issues MITEF hopes to address include:
- Why Hyperlocal News is poised to become a major business very soon.
- The changing journalism business model. How we got where we are and what does the future hold what kinds of companies will be winners, what business models, incumbents versus upstarts.
- How technological advances have caused profound changes in the world of journalism and what the future of technology might hold for the profession of journalism, including mobile devices/iPad and including economy of scale in content and ad sales fueled by technology.
- How will the changing world of journalism impact advertising and marketing for businesses throughout the country and the world?
- How will recent and developing transactions affect this space (such as Groupon’s $6B offer from Google, rejected)?
The schedule for the evening is as follows:
5:30pm – 6:00pm: Reception
6:00pm – 7:30pm: Panel Discussion
7:30pm – 8:30pm: Networking
The event will take place at The New York Times building at 620 Eighth Avenue. For more information or to register, please visit the MITEF website. We hope to see you there!









