Wall Street Journal Going Social
by Canvass on July 31, 2009
in Social Media
Since the traditional newspaper industry is running out of readers, and thus money, The Wall Street Journal is gunning for the LinkedIn crowd and all its monetization opportunities — jobs, ads, and, a marketing pool for WSJ subscriptions — with a new social network called WSJ Connect, according to TechCrunch. Apparently, they’re even calling it “LinkedIn Killer” internally.
Instead of building it internally, like they did with its existing WSJ Community, they’ve tapped another arm of parent company News Corp. — Slingshot Lab. WSJ Connect is still in the planning/conceptual stages, but if it moves forward, it would leverage the WSJ brand as a separate property with out a need for a paid subscription to the newspaper.
Just another example of a traditional brand embracing social media as an alternate revenue source, and of course, another nail in the traditional newspaper coffin.
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