I remember during the Internet bubble, the financial media would look to bellweather stocks, like Cisco, to represent how the stock market was moving. The Financial Times (along with its stateside brother-from-another-mother, the Wall Street Journal) is a bellweather of financial media. So, when the venerable FT reaches an inflection point where its digital subscribers surpasses those from print, I think it's fair to extrapolate that out that -- hey, we're really there... According to Paid Content:
"Work will shift from night to day, when people are actually online reading. “[The] 1970s-style newspaper publishing process — making incremental changes to multiple editions through the night — is dead,” Barber wrote. “In future, our print product will derive from the web offering — not vice versa.” Journalists will “publish stories to meet peak viewing times on the web rather than old print deadlines.”Though it may have taken longer for finance to embrace digital (from a media consumption point of view), when the FT has 100k more digital subs than print, it's time to say we've arrived.
Extending this out further in the financial ecosystemSo, couple of thoughts about the move to digital.
- I was early to the Finance 2.0 movement. Many of the next-generation finance companies I covered in my book are still around but they haven't quite trampled the incumbent players. Are we reaching a point where we're going to see more mass adoption of these tools like Motif Investing, Wealthfront, and Covestor?
- Curation becomes as important as original content: Seeking Alpha has it right. In a digital age of investing, print is so late to the game. Curation becomes paramount as news moves faster and the trading-side of the investment game moves faster.
- Do financial content and investing get closer to one another? Investment platforms understand that content is what brings new investors in the door (see the job Mick Weinstein is doing at Covestor), but I'm not convinced it makes them stay. Are we going to see that change?