With all the talk about the upcoming Facebook IPO and the insights into their revenue (85% from advertising), it's hard not to consider them a media company. And if you've ever seen a presentation by the Facebook sales team, you've already figured that out. They start with data and effortlessly segue into ads. 

Then there's YouTube, (soon to be launching original channels with shows by well-known producers), not to mention Google+ and all the other Google products.  Twitter may claim otherwise, but aren't they really a social newswire?  LinkedIn has hired editors.  Pinterest is still in beta, but as a souped up catalogue with social elements, imagine the possibilities. 

Of course there are other more 'traditional' social media sites like the Huffington Post. Aggregators like Stumbleupon and Reddit (no advertising yet, but a great site for indie products).  And no doubt many more concepts waiting in the wings.

The early 2000s were all about convergence of MSM and online media – an experiment that for the most part didn't work. Today, it's live from New York and everywhere else…the 21st century media moguls crawl out of the tech sludge, stand up and put on a jacket and tie. Did someone say IPO?

1. Act like a publisher. Ask yourself what's the story? Develop and refine it. Create and curate amazing content… (Easier said than done, of course. Content Rules is a great place to start.)
2. Understand and become adept at navigating social channels. Test, learn, counsel.
3. Live our name:
   • a) Be public – for goodness sakes, get out of the shadows and be transparent (i.e. no longer that shady figure in the background pulling the proverbial strings).
   • b) Develop relationships – by making connections. Lots of them. Start building trust by getting to know folks online and IRL and being interested in who they are and what they do. And then be a connector who puts people together; you can be the hub to many network spokes.
4. Reciprocate.  But give first and offer more than you take.  

This is certainly not everything, but it's a good place to start.  What do you think the new media relations will look like?

About Martin Waxman

Martin Waxman, MCM, is a digital communications strategist. He conducts AI research, leads digital and social media training workshops and speaks at events across North America. He's co-founder of two PR agencies, president of a consultancy and has worked in the industry for nearly 30 years. Martin is a LinkedIn Learning instructor, teaches digital strategy and social media at McMaster University, the Schulich School of Business, University of Toronto SCS and Seneca College. He's a member of the Institute for Public Relations Digital Media Research Center and a past-chair of PRSA Counselors Academy. He has a Master of Communications Management (MCM) from McMaster-Syracuse Universities.

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