Commentary
Jason@Bitcoin4Freedom may not have been a household name, but his editorial on X regarding the U.S. election has garnered over 114 million views to date.
This is just one example of the numerous instances where an average individual creates content that resonates on a massive scale, often surpassing traditional media outlets. In 2024, ordinary citizens are making headlines on social media every day, leading Elon Musk to coin the phrase, “News by the people, for the people!”
The influence of X in communication is remarkable. Today, politicians and celebrities choose to make their announcements on social media platforms rather than through traditional press conferences.
Furthermore, social media, particularly X, provides a platform for open discussions and diverse viewpoints, along with unrestricted criticism. It’s a dynamic arena where authenticity and truth prevail, a process Musk refers to as a “cumulative voice.”
In contrast, many traditional media channels have stagnated. They often shy away from controversial topics such as climate action and gender politics, sticking within the confines of what is known as the Overton Window, where certain issues are either forbidden or ignored.
Traditional media often fails to meet the demands of curious minds, prompting people to seek alternative sources. This explains the immense popularity of figures like Joe Rogan and Tucker Carlson, whose viewership surpasses that of mainstream media outlets. It also clarifies why X has become the top news app in countries like Britain, Germany, and
Canada in recent months. With corporate media lacking depth and diversity, half of the population now turns to social media for news consumption.
Mainstream media has also struggled to keep up with real-time news updates. Events like the Trump rally shooting and the Iranian attack on Israel were covered minute-by-minute on X, leaving traditional media outlets trailing behind and merely repeating information already known to X readers. It’s akin to X being the Amazon of the media world compared to the Sears of traditional media.
The decline of traditional media has been stark. In the U.S.,
3,000 newspapers have shuttered since 2005, and ad revenue plummeted from US$49 billion to US$10 billion by 2022. In Canada, Nordstar (publisher of the Toronto Star) closed numerous newspapers in 2023 and laid off over
600 employees. Additionally, in 2023, Corus or Global News
cut 25 percent of its workforce, leading to a significant decline in stock value in recent months.
Despite receiving $1.2 billion in taxpayer funds annually, the CBC can only attract
2.1 percent of prime-time viewers. The Canadian Taxpayers Federation notes that 97.9 percent of Canadians do not tune in. Television networks like CNN and CTV News are competing for an aging audience demographic, which continues to diminish.
In October, the Washington Post
stated that “Americans don’t trust the news media.” While some viewed this as a groundbreaking revelation, a Gallup poll had already shown that only 7 percent of Americans have “a great deal” of trust in newspapers, TV, and radio, with 39 percent having “no trust at all.”
Nov. 5 marked a turning point for the media industry. Many outlets were not just defeated but humiliated by a social media onslaught armed with memes about squirrels and garbage trucks. Musk declared, “X won. The mainstream media lost!”
Similar to the story of Humpty Dumpty, traditional media has experienced a significant downfall, with no apparent solution in sight.
The views expressed in this article are solely the opinions of the author and may not reflect the views of The Epoch Times.