Arun Jaitley on how he consumes news and how digital media helps him as stake holder (video)

“Till in the last few years I am found that we are in next change of transition where the digital medium is taking over. And the digital medium is perhaps going to impact it more than what the television medium impacted.”

“The impact of technology is now that almost by a minute you get to know what has been happening. You have flashes on your ipads and on your smart phones which inform you almost in real time the development has taken place. And therefore what you watch on television, whenever you get the time to watch television, that news is also not fresh news because you have already come across the headlines and even detail news on digital medium itself.”

“And slowly the impact of this is going to be on economy of the medium, because the size of the cake is limited and therefore advertisement revenue is going to be shared with all these mediums.”

“It’s leading to change of habit. Today I read my newspapers on ipad or on Smart phones at night before I go to sleep. Because a very large part of news is already loaded onto the sites of various newspapers by late evening. And therefore rather than disturb my busy schedule in the morning with newspapers, just before I go to sleep after dinner, I start reading my evening newspapers. And those are exactly the newspapers that otherwise I read in the morning.”

“The largest newspaper groups have been informed me that their circulations are certainly not growing. The circulations are dipping. Magazine journalism is facing the most severe challenge. Some of the best known magazines have closed down and gone over into the digital mode.”

In new circumstances, “huge empowerment of all section that is taking place.”

Some of interesting observations made by the Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley today while addressing a memorial lecture:

“Till in the last few years I am found that we are in next change of transition where the digital medium is taking over. And the digital medium is perhaps going to impact it more than what the television medium impacted.”

“The impact of technology is now that almost by a minute you get to know what has been happening. You have flashes on your ipads and on your smart phones which inform you almost in real time the development has taken place. And therefore what you watch on television, whenever you get the time to watch television, that news is also not fresh news because you have already come across the headlines and even detail news on digital medium itself.”

“And slowly the impact of this is going to be on economy of the medium, because the size of the cake is limited and therefore advertisement revenue is going to be shared with all these mediums.”

“It’s leading to change of habit. Today I read my newspapers on ipad or on Smart phones at night before I go to sleep. Because a very large part of news is already loaded onto the sites of various newspapers by late evening. And therefore rather than disturb my busy schedule in the morning with newspapers, just before I go to sleep after dinner, I start reading my evening newspapers. And those are exactly the newspapers that otherwise I read in the morning.”

“The largest newspaper groups have been informed me that their circulations are certainly not growing. The circulations are dipping. Magazine journalism is facing the most severe challenge. Some of the best known magazines have closed down and gone over into the digital mode.”

In new circumstances, “huge empowerment of all section that is taking place.”

Jaitley spoke in detail about how his Facebook posts that took his just 20 minutes each day during the elections last year were shared in the size greater than the circulation of the largest daily everyday. He said, counter viewpoints are these days just posted on social media, and one doesn’t need to contact each and every media office. Shri Jaitley also gave an example, how he efficiently used social media as Defense Minister when some incident took place in Jammu & Kashmir.

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