The Direction of the Media Shift

The following includes a brief clip I shot at the recent Social Media World Forum ’09 of speaker, Richard Jalichandra, Technorati CEO:  Arrows

Mr. Jalichandra asks the question that many bloggers probably want answered:  who’s making money off their blogs?  He answered that Technorati had 1.4 million registered users (Stats revised for 2009) and that  28% of those registered users claimed to either directly or indirectly make money off their blogs

Then he added:

“Everytime you hear News reports of 10 journalists losing their jobs, think about 300,000-350,000 people who are making money off their blogs — that’s where the media shift is going:

Richard Jalichandra’s conclusion on the “media shift” represented the first time I had heard a business leader publicly draw a relationship between staff-cuts in print/online news media business and  earnings in another media business — namely blogging.

Do you think he’s right?