The Wall Street Journal continues to botch YouTube coverage

I am browsing Twitter past everyone’s bed-time, like I do, and I come across a The Next Web article (courtesy of Steffen Konrath) about The Wall Street Journal’s latest reporting snafu.

The WSJ had erroneously reported Google is pledging an additional $200 million in its premium content channel’s marketing budget. This caused a “rais[ing of] eyebrows” as it made the pledged total marketing budget $400 million. That’s a shit ton of money, especially when you consider Google only gave 150 million to the content creators.  A 150 million pie being split with 100 channels!  “Channels,” which equate to established YouTube celebrities AND people like Felicia Day, Deepak Chopra and Kevin Smith, AND their entire film and production crews. (Tiny pie slices, ’cause we’re all on diets, right?)

Established YouTubers have complained about this injustice, this discrepancy in funding which they claim proves Google doesn’t take what they do seriously – (how can you compete with TV if you don’t invest properly in the content, Google!?) – and this additional $200 million figure (and slight) was cause for more complaint.

According to this executive, the funding his company received from Google allows it to spend about $1,000 a minute on each video production made for its channel.

“But $1,000 a finished minute is not enough,” he explained. “You need to get to around $2,100. At $1,000 a minute, you’re pulling favors every time you do a shoot. If you’re just pulling a location permit in L.A., it’s going to cost you $900.”

Long story short, Google told TNW they are not investing $400 million. The WSJ was confusing that time in May when Google pledged $200 towards marketing its premium content. Oops!!

Shortly after that WSJ article was posted, RWW founder Richard MacManus sends me a link to it on skype:

[7/31/2012 3:57:39 PM] Richard MacManus: Have you seen this Fruzsina? http://online.wsj.com/article_email/SB10000872396390444840104577549632241258356-lMyQjAxMTAyMDMwMDAzODA3Wj.html

[7/31/2012 3:58:14 PM] fruzsina.eordogh: no!

[7/31/2012 3:58:32 PM] fruzsina.eordogh: the wall street journal always publishes news that is years old, pretending it’s fresh

[7/31/2012 3:59:00 PM] fruzsina.eordogh: google already pledged 200 mil in advertising

[7/31/2012 4:04:03 PM] fruzsina.eordogh: I don’t find anything informative about this article…

[7/31/2012 4:04:15 PM] fruzsina.eordogh: it has a nice chart

So, you know that part in the skype chat where I said the WSJ likes to publish news that is “years old, pretending it’s fresh?” I was referring to this time in February 2012 when the Wall Street Journal ran an article about Ray William Johnson being YouTube’s first millionaire. (RWJ became YouTube’s first millionaire in April 2011.)

Please note the 49 comments on that RWJ article, many of which are from YouTubers pointing out various factual inaccuracies in the article.  RWJ even ranted about how horrible the article was in an episode of his show (a very rare move)… and it looks like the WSJ NEVER BOTHERED to correct all of those factual inaccuracies, nor did they apologize.

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One Comment on “The Wall Street Journal continues to botch YouTube coverage”

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