Looks like BusinessWeek
is thinking about joining the oft-talked about Web 2.0
revolution. John Byrne, BusinessWeeks executive editor and the acting editor-in-chief for the publications website, said today at the Interactive Media Conference
in Miami that the outlet is considering starting
a business YouTube where aspiring entrepreneurs and Donald Trump wannabes can post a video pitching their idea for a new venture. The site is also discussing a type of online Business Idol where anyone could submit a video detailing their idea for a new business. Users would rate proposals, with the winner receiving $500,000 in VC funding
. Having just recently returned from an Entrepreneurs Organization
conference full of ideas and energy, I think the "business YouTube" would likely get some very enthusiastic and innovative entrants, leading to more site visitors and possibly a wider audience for BusinessWeek.
According to MEDIAWEEK
, BusinessWeek is looking to tap into the revenue possibilities of the online community. The outlet already has a video section
on its website but is looking to expand interactivity. The notion of turning to the Web 2.0 world to supplement traditional print publications is not a new one and is an idea were seeing a lot of recently. Just like many other corporations, media outlets are increasing their Internet presence with podcasts, videos and blogs a good reminder that the media industry is a business that needs to locate targets customers just like other corporations.