Here’s a worthwhile article on social media relations and how and why current PR is missing the boat.
Opinion: Why social media relations is more important than good PR
I think the developments in all manner of media mean that anyone with a vested interest, in particular infrastructure, that allowed them to make money in another era – like 10 years ago – needs to rapidly retool. That retooling needs to take place at the business model level. And it requires new skills and expertise and a whole different mind set about risk and managing risks to a business.
The financial crisis and global recession isn’t so much the cause of the demise of so many businesses, from banks to department stores to media empires. It simply accelerated a trend that began in the 1990s.