Web2.0 Expo is off and running with one of the first sessions that dealt with the evolution of traditional media and the Web2.0 world.

Some key points the panel…

Community moderated content that leverages syndication from as many credible sources as possible is a major driver of the media evolution.

Everyone is a publisher now and it is very difficult to break through the noise. In terms of creating a media business, those that were in the game early just after the Web1.0 bubble burst had a major advantage at gaining a foothold and having people take notice. The industry is hyper saturated and even if you have the greatest “anything”, exposure to your audience is a major challenge

The novelty effect of a site like YouTube is not scalable. There are thousands of video sites that do what YouTube did (many do it better) but everyone knows and focuses on YouTube.

While acquisitions are the major focus for traditional media as they try to jump into the Web2.0 world, the key for many organizations is working with small startups and trying to pull off small, fast, and nibble experiments as they decide what they want to do in the new world.

Knowing you audience is critical. If you do not know and embrace what your audience wants you will never be successful. As you understand your audience you must cater to them in order to grow.

Mobile internet is the killer app that will literally kill off the traditional paper media. The non-web browser internet is quickly evolving and will have a major impact on traditional media. Local advertising that can leverage the geo-targeting/GPS capabilities of mobile tech may be very disruptive in the near future.