Fast Company delivers a sobering piece on the economic promise and delivery of hyperlocal news --- the term for information about your street, district and community at a very granular level.
It is, as Fast Company suggests, a $100-billion potential in the United States. But the consumer demand isn't being met by sites, and sites aren't meeting the demands of advertisers. The result is the absence of a business model.
What Fast Company concludes is that the idea itself is excellent. It just needs to marry its potential audience with its potential revenue, and that may be some time away.
It is, as Fast Company suggests, a $100-billion potential in the United States. But the consumer demand isn't being met by sites, and sites aren't meeting the demands of advertisers. The result is the absence of a business model.
What Fast Company concludes is that the idea itself is excellent. It just needs to marry its potential audience with its potential revenue, and that may be some time away.
