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And the #Oscar goes to… Twitter

Twitter has changed the landscape for how news is identified and shared. Nothing new in that statement.

This week’s Oscars provide an obvious case in point.

Co-host James Franco (using #oscarsrealtime) was one of 388,717 tweeters, tweeting as the ceremony unfolded and even posting footage of his first steps onto the stage http://say.ly/BNqa5c

Tweets referencing the Oscars totaled an impressive 1,269,970, generating 1,663,458,778 potential impressions.

Contrast that with Nine’s evening replay of the event: 505 000 Australians tuned in, down nearly 200 000 last year.

To manage this evolution, what do we need to know?

We need to understand and respect – even if we disagree with the accuracy or integrity of content – the power of information shared via social media platforms

Twitter particularly provides quick, inexpensive (read: free) and measurable means to tap a community’s thoughts, gauge and manage response, and operate in real time

The passive consumption model is less valid each day; consumers want and will participate, even if they don’t know what they’re talking about

The daily news beach-head of the mastheads in print and broadcast are now part of the media landscape – not the dominant feature