Social media has upended everything from how people find information to media organizations’ business models. Digital Journal talks to a few industry leaders on what this means for the future of media.

In media circles, the words “social media” are uttered almost as often as one would greet a co-worker in the morning, for good reason: It’s completely changed journalism, business models and strategies of news organizations.

According to comScore, almost 75 percent of global Web users access social media sites every month. When it comes to generating revenue, eMarketer says U.S. advertisers will spend $1.68 billion on social networking sites such as Facebook, MySpace and Twitter in 2010. That is a 20 percent jump over 2009 numbers.

And when it comes to journalism, many experts agree social media lets reporters have more frequent two-way communication with news consumers; it allows journalists to find more sources and real-time information; and it enables inexpensive live reporting for just about anyone.

“Social media has fundamentally changed the two most important aspects of traditional news, namely breaking news and commentary,” Jordan Banks, managing director of Facebook Canada, told DigitalJournal.com. “As a result, it is no longer sufficient just to provide the news. The expectation of the masses is now to be able to participate in the news, to share it, shape it, comment on it, define it and to use it as a tool to democratize the entire creation and dissemination process.”

Banks oversees Facebook’s Canadian operations and is responsible for leading and managing all commercial operations from the company’s Toronto-based office.

Previously, Banks was the managing partner at Thunder Road Capital which he founded in 2008 to provide investment and advisory services to early stage technology companies. Prior to that role he was the CEO of JumpTV and managing director of eBay Canada.

As a seasoned executive who has run the Canadian offices of a few Silicon Valley giants, Banks is widely respected and is an expert on social media’s impact on business. In one of his first major public events since taking over Facebook’s Canadian operations, Banks is set to appear on a five-person panel discussion at the Future of Media, an event taking place in Toronto on Sept. 8. The event is hosted by DigitalJournal.com and invites key executives, entrepreneurs, social media experts and journalists to comment on the future of media and engage in a Q&A with audience members.

“In a world where ‘social’ is the norm and expectation, all content — and news is no exception — will have to play by the rules of transparency, honesty and mass collaboration,” said Banks. With social media changing how, where and when people communicate, large news organizations are now adapting their business models and strategies to capitalize on an increasingly engaged audience.

“Media organizations need to look at social media as a distribution tool to get their content and brand to readers and users who may not be visiting their website, mobile site and applications,” Anjali Kapoor told DigitalJournal.com. Kapoor is the Managing Editor, Digital at The Globe and Mail. “The experience of a news user has also changed and more often than not, a news item might show up in a Facebook feed or Twitter feed first. It offers amazing potential and changes the way journalists need to think about their audience and their journalism.”

Kapoor oversees the editorial digital strategy for The Globe and Mail. She was also director of product and editorial at Yahoo! Canada where she was responsible for overseeing the product strategy and business goals of the Media Group. She will also be speaking at the Future of Media in Toronto on Sept. 8.

Kapoor says a social media plan and strategy is always an integral part of The Globe and Mail‘s coverage of various news stories. She says the Globe is using social media sites such as Facebook and Twitter to cover stories and cites a Toronto example: “Our coverage of the G20 Summit was a combination of traditional journalism and a live blog that incorporated real-time tweeting, photos and video from reporters, our readers and other blogs,” Kapoor said.

Print journalism is not the only medium to be affected by social media, either. As David Skok, Senior Producer of Online Content for Global News told DigitalJournal.com, broadcast media is also in the middle of undergoing massive change.

“The ivory tower approach of an anchor telling the audience what kind of day it’s been has been replaced by a collaborative and symbiotic relationship between the audience and the reporter,” Skok said. “On a consumption level, the audience now gets to decide what it wants, when it wants it. Whether through social graphs or geo-targeted hyper-local news, the audience that now determines what’s important to them and their friends, and not the news editor.”

Skok oversees the local and national digital properties under the GlobalNews.ca network. His career spans both the online and on-air worlds of news, and he’s pioneered many of Global News’ online and cross-platform efforts. Prior to that position, he worked with ABC News in Washington on its Nightline program, and with CHUM Radio in Toronto. Skok will also be speaking at the Future of Media in Toronto on Sept. 8.

“The ultimate purpose of journalism is to communicate with, and on behalf of, the audience,” said Skok. “As the audience changes the way it consumes news and information, it is vital that journalists reflect these changes both in their news-gathering and storytelling abilities. Ignoring the effect of social media on journalism is akin to turning your back on the audience you serve.”

Skok believes social media has greatly increased the transparency between news organizations and their audiences, which has improved relationships between the two. And while many news organizations have embraced social media in some way, Skok believes they are not utilizing new platforms to their fullest.

“Very few news organizations have a strong grasp of what each services’ strengths and weaknesses are, and how each can be effectively used as distribution and communication tools,” he said. “Social media isn’t just about communicating to your audience, it’s about sharing with and learning from them in a transparent and honest way. That’s a concept that I think most news organizations are still grappling with.”

For more info on social media and mobile platforms, don’t miss the Future of Media event in Toronto on Sept. 8. The event is hosted by DigitalJournal.com and it’s free to attend but space is limited. More info on the event can be found here.

Save the date: Sept 8, 2010 at the Drake Hotel, Toronto. Doors open at 7:30 p.m., event starts at 8 p.m.

Digital media news outlet DigitalJournal.com is proud to announce it will be hosting its annual discussion featuring some of the most influential leaders in Canadian media. We have invited leading executives from Facebook, the Globe & Mail, Global News and Polar Mobile.

Dubbed “The Future of Media,” the panel discussion will explore how media organizations are adapting to the Web, how social media has influenced journalism, and what the future holds for media professionals.

The event will take place Wednesday, September 8, 2010 at the Drake Hotel Underground (1150 Queen Street West) at 8 p.m. Doors open at 7:30 p.m. and admission is free and open to the public. Seating is limited and will be on a first-come, first-serve basis. The event will also be filmed and broadcast online after the event.

Topic & Discussion

The Future of Media 2010 is a must-see event for anyone interested in the rapidly changing landscape of new media, the Web and technology. The speakers will discuss some of the biggest challenges the mainstream media face today. Panelists will address how social and digital media are changing traditional media; why social services such as Facebook are increasingly being regarded as a discovery point for news; how real-time information is changing mainstream media and the role of mobile devices; and how changing media consumption habits offer a glimpse into the future of media.

The event will feature a live panel discussion followed by a Q&A session with the audience. Digital Journal will also be taking questions via Facebook and Twitter to pose to panelists. Questions may be submitted at any time between now and Sept. 8.

Speakers & Sponsors

DigitalJournal.com is happy to announce a star-studded, A-list group of media executives will make up the panel at this year’s Future of Media conference. The speakers are:

• Jordan Banks, Managing Director of Facebook Canada
• Anjali Kapoor, Managing Editor of the Globe and Mail Digital
• David Skok, Senior Producer of Online Content for Global News
• Kunal Gupta, CEO of Polar Mobile
  
• Mark Evans, a digital marketing and social media strategist and co-founder of the MESH conference

The Future of Media will be hosted and moderated by Digital Journal. The event is sponsored by Queensway Audi, Toronto’s number-one Audi dealer; Suite 66, Canada’s largest independent online advertising sales organization; Dell Canada; Rogers Wireless; Flip Video; and Palm.

Prizes

Sponsors of Digital Journal’s Future of Media event are also providing an impressive array of door prizes to be given away to attendees of the Future of Media event on Sept. 8 at the Drake Hotel in Toronto. The prizes are:

• 1 person will take home a 32GB Wi-Fi + 3G Apple iPad, courtesy of Suite 66.
• 1 person will take home a new Dell Studio 15 notebook with artist lid, courtesy of Dell Canada.
• 5 guests will take home a high-definition Flip Ultra HD camcorder, courtesy of Flip Video.
• 2 guests will take home a new Palm Pre, a Touchstone charger and leather case, courtesy of Palm. Wireless subscription not included.
• 1 guest will take home a new Samsung Galaxy S Captivate, courtesy of Rogers Wireless. Wireless subscription not included.

Prizes are given away in a random draw at the end of the night, so you have to be there to win. For more info, interview opportunities or press passes to the event, contact David Silverberg or Chris Hogg online here.

RSVP to The Future of Media here.

DigitalJournal.com made a big announcement today so I’m posting it here for all those interested:

Digital Journal, Inc., a leader in social news and citizen journalism, is pleased to announce the formation of a Board of Advisers.

The Board will provide expertise to the company’s management team to spearhead new initiatives to grow Digital Journal’s global media presence. The advisers are highly renowned experts in a range of fields, including new media, online journalism and venture capital.

DigitalJournal is a news network made up of more than 21,000 journalists, mainstream reporters and bloggers who report from 175 countries around the world.

“We’re very happy to have such an experienced and prolific group of individuals on our Board of Advisers,” says Chris Hogg, CEO of Digital Journal, Inc. “We’ve developed an international contributor base and readership, and we’re moving forward to develop new revenue channels and technologies. Along with our Board of Advisers, Digital Journal is poised for strong growth in 2010.”

The board is made up of the following individuals: Jack Kapica, Andrew Waitman, Jen Evans, Kerry Munro and Dr. Michael Geist.

Digital Journal is currently exploring syndication and strategic partnership opportunities, as the company is often approached by organizations looking to tap into the growing citizen journalism field.

Recognized as a pioneer in the citizen-media industry, Digital Journal is often praised for its quality reportage and unique approach to citizen journalism. Journalists are paid for their work through a unique revenue-sharing program. They are taught how to report news, and on-staff editors work hand-in-hand with reporters around the world to fact-check, verify and source stories.

For syndication, strategic partnership or investment opportunities, please contact Chris Hogg, CEO, Digital Journal Inc. // Website Contact // Tel: (416) 410-9675

About DigitalJournal.com: DigitalJournal.com is a citizen media site where writers from across the world work with seasoned professional reporters. The company has been recognized as a pioneer in citizen journalism, and the news reportage has been heralded as quality journalism. Contributors known as “Digital Journalists” work 24/7 to report news from multiple perspectives, while special attention is placed on quality and accuracy.

Digital Journal Board of Advisers:

Chairing the Board of Advisers is Jack Kapica, a journalist and editor with more than 40 years experience. Kapica has been a staff writer and editor for The Gazette in Montreal before moving to The Globe and Mail in 1975, where he edited a section of the paper devoted to popular culture.

Jack also contributed to Digital Journal magazine between 2001 and 2007. Over his years at the Globe, Jack contributed to virtually every beat from literary criticism to religion, news and technology. He has been Books Editor, editor of the Letters to the Editor page, and World Editor for the week-in-review Focus section.

In 1985, he published a collection of the best letters printed by the Globe, in a book called Shocked and Appalled: A Century of Letters to The Globe and Mail. Jack helped train Globe reporters when the newspaper became computerized in 1977, and purchased his first computer in 1981.

From 1996 to 1999, Jack wrote many high-tech features as well as a weekly column called Cyberia for the print paper. He also regularly reviewed new products and software.

In 2001, he became the lead technology columnist and reporter for the technology section of the paper’s website, globeandmail.com.

Jack left the Globe in 2008.

Andrew Waitman is Chief Executive Officer of Pythian and Managing Partner of Blackswan Ventures, an angel technology investment firm.

From 1996 to 2008, Andrew was the Managing Partner of Celtic House Venture Partners, the largest and most successful IT venture fund in Canada, with more than $500-million under management.

He has been involved with more than 75 start-ups and a board member of more than 25 technology start-ups. His current boards include Fidus Systems and Pythian. Andrew has previously served on the boards of DNA13, Third Brigade, ModaSolutions, Diablo Technologies, Overlay.TV, TrialStat, Memsic (IPO on Nasdaq), Sandvine (IPO on TSE), OctigaBay (acquired by Cray), FastLane Technologies (acquired by Quest Software), Pixstream (acquired by Cisco), Abatis (acquired by Redback), OLAP@Work (acquired by Business Objects), BlueArc, Avesta Technologies (acquired by Visual Networks), Orchestream (IPO on LSE) and Ubiquity Software (acquired by Avaya). He sits on the advisory Board of Genesys Capital and the volunteer Board of SHAD Valley. Prior to Celtic House Andrew held senior positions at Eagle & Partners (now Dundee Securities), Citibank and Nortel.

Andrew holds a Bachelor of Applied Science in Electrical Engineering from the University of Waterloo and an MBA with distinction from the Richard Ivey School of Business. He is a Chartered Financial Analyst and a member of the Association of Professional Engineers of Ontario.

Jen Evans is the founder and chief strategist at Sequentia Environics, a customer communications agency ranked as Canada’s 24th (2005) and 27th (2004) fastest-growing emerging company by PROFIT magazine.

She joined the board of ITAC in 2009 and has been the co-chair of the White Ribbon CampaignPCworld.ca and was a contributor to The Globe and Mail‘s online tech edition for seven years. since 2005, and also sits on RedFlagDeals’ advisory board. Jen writes a column on business and technology for

Jen has been talking tech on BNN (formerly Report on Business Television) since 1999, and appears in the Technology in the Workplace segment on Workopolis.tv. Jen and Sequentia Environics are pioneers in the world of community and social media, developing revenue-focused social content programs as far back as 1999.

They developed their first community program for Intel in 2004, and current social media and community clients include Yahoo!, TD Canada Trust, Palm, Coca-Cola Canada, Autodesk, and Bell Enterprise. Sequentia Environics’ groundbreaking social measurement methodology, based on customer ethnography, analytics and primary research, has helped more than 40 enterprises establish their social and community strategy and measure success.

Kerry Munro is former head of Yahoo! Canada. Over the past two decades Kerry has led and advised organizations on how to experience hyper growth by leveraging consumer behaviour and demystifying technology as a means to connect with consumers, build a digital brand, and increase revenues and shareholder value.

Recently he was the head of Yahoo! Canada, where it became the fastest-growing and best-performing business unit in Yahoo! worldwide, achieving annual double-to-triple-digit growth over four years and creating connections with more than 19 million Canadians monthly.

Kerry has been recognized as one of Canada’s top influential marketers. He advises executives, boards, growth companies and charitable organizations, and is sought after contributor to national news organizations.

Dr. Michael Geist is a professor of law at the University of Ottawa, where he holds the Canada Research Chair in Internet and E-commerce Law.

Michael is an internationally syndicated columnist on technology law issues with his regular column appearing in the Toronto Star, Ottawa Citizen, and the BBC. Michael serves on the Privacy Commissioner of Canada’s Expert Advisory Board, on the Canadian Digital Information Strategy’s Review Panel, the Electronic Frontier Foundation Advisory Board, and on the Information Program Sub-Board of the Open Society Institute.

Michael has received numerous awards for his work including the Les Fowlie Award for Intellectual Freedom from the Ontario Library Association in 2009; the Electronic Frontier Foundation’s Pioneer Award in 2008; Canarie’s IWAY Public Leadership Award for his contribution to the development of the Internet in Canada; and he was named one of Canada’s Top 40 Under 40 in 2003.

In case you missed the announcement, the company I work with (DigitalJournal.com) announced a major upgrade to its mobile site today. Visitors will now be able to submit news, blogs and images using smartphones anywhere in the world. Anyone with a cellphone is a citizen journalist.

The new mobile site is available by visiting m.digitaljournal.com from your cellphone.

We’ve made this announcement because the greatest asset for any news outlet is the ability to have reporters file a story or submit a photo from wherever they are. Whether it’s from a house in the suburbs of Toronto, the scene of an accident in Barcelona, a press conference in Cape Town or a crowded street in Beijing, people all over the world now have the ability to instantly submit blogs, news images and more to DigitalJournal.com via their cellphone.

Digital Journal’s new mobile site includes a long list of  enhancements and features for mobile news junkies and roving reporters. Think of this as a comprehensive iPhone app that doesn’t require an iPhone, because the site will work on any smart hone. All you need is an Internet connection on your mobile device.

Among the improvements and new features, visitors to m.digitaljournal.com will see:

• Comprehensive content: Digital Journal’s mobile site now boasts more content, and a lot more to do. You can now read or submit news and blogs, view or submit images, browse through groups, comment on virtually everything and click on anyone’s name to see recent activity. The mobile site is a completely portable social news network.

• Submit news: If you’re a Digital Journalist, simply click “Post News” and provide a headline, keywords and details of your article. You can save a draft to see how it looks and then publish it when your draft is ready and polished up. All Digital Journalists are paid for their news reports (more info).

• Post blogs: Every member of the site can now publish a blog from m.digitaljournal.com. It may not be a news report but something fun worth sharing. Click on the link to blogs from the top of the page and you can post a blog on any topic from wherever you are.

• Submit images: Every member of the site has been given a secret email address they can use to submit images. From your mobile device, you can email pictures to this secret address and they will automatically be uploaded to the site with your name listed as the photographer. You can then add your images to any article or blog post across the site, even if someone else wrote the post. It’s mobile content crowdsourcing!

• Share: You can now share articles, blogs and images with your friends, family and coworkers from m.digitaljournal.com using our embedded sharing tools. Publish directly to Facebook or Twitter while on the go.

• Groups: What would a social news network be like without Groups? Visit m.digitaljournal.com and you can view recently active Groups on the site. You can join any Group and then publish blogs and share info directly with that Group’s members.

• Vote for articles: If you’re logged in to the mobile site, all articles come with a vote button. If you enjoyed reading it, vote it up because your input helps sort news on the front page.

• Mobile editors: All Digital Journalists can also edit while on the fly. Using your mobile phone, you can click “edit” on any article and make revisions or add information to any story. Writers have to approve changes before they are implemented on the site (more on how this works).

• Listen to any article using ReadSpeaker: We’ve been testing this for some time now and it’s been a huge success. Anyone who visits m.digitaljournal.com can click “Listen to article” and have ReadSpeaker read articles out loud to them. This is a great feature if you’re busy driving or cooking supper, for example, all thanks Voice Corp.

There are a lot more features available, so all you have to do is visit m.digitaljournal.com from your mobile phone and get in on the action.