"The world needs to be interpreted"
If there were no quality media, who would explain the IS fighters' motives to the public?
Who would explain the twists and turns of Greece's debt crisis?
Who would act as the watchdog to make sure that Finnish listed companies follow good governance practices or would explore how the act on securities register is being prepared?
The wisdom of the crowd and collaborative efforts are important features in journalism, but if there are no professional content providers, the key ideas will remain unexplored.
You can recognise quality content by the fact that it is not available free of charge anywhere else. Customers need to feel that they actually gain some added value from media that they are willing to pay for.
Every self-respecting news outlet is on social media; everyone is there, the entire public. A hundred years ago people would hand out leaflets in street corners; now they all play with their mobile devices.