The internet continues to change everyday life as we know it. New opportunities are arising monthly with many new industries, that did not exist in the past due to the advancement of technology and the recession. There have been a variety of people in the domain industry that have blogged (Sahar, Andrew, Rick) on a few opportunities that have evolved/evolving at the present time and who I feel have great insight as transformation is taking place.

As the internet continues to transform, it is becoming apparent that the revenue streams with prime domains and geo domains are endless. Last year at the Geo Domain Expo, I sat on a panel and stated many owners of prime geo domains sitting in the audience would become the new generation of media, as traditional media fades. This is slowly starting to become a reality for a few owners of city.coms that have remained proactive to achieve this goal.

A multi-million/billion dollar opportunity that I found interesting on DNW.com is the opportunity to replace traditional media news with new media news via the internet. This is an exploding industry on the internet, and we are starting to see this transformation take place for a few owners of city.coms in the Geo Domain Industry. These owners are hiring professional journalists to provide daily news content in exchange for profit sharing revenue for their section of the site. This is smart business and motivates journalists to deliver great content to earn great revenue for their hard work.

This is a very unique way to deliver fresh content for your website and to increase traffic/site loyalty that was non existent before. News is a red hot industry that no one can live without. It is how many traditional media companies became the titans they are. Unfortunately, for many of these titans, complacency has stunted their growth and is the cause for popular news print publications coming to an end. It may even become the end for some media titans, R.I.P.

Today, I came across an interesting article on NYTimes.com, that once again shows another potential revenue stream for those who own quality geo domains. The new industry is called HyperLocal News that a handful of companies are gambling on. It is the compilation of a variety of news sources (Mainly blogs), that delivers news to consumers via the internet based on their preference of a city, state, region, and even neighborhood.

Completely customized news that I think will become very popular among internet users. The article is a must read for anyone interested in the transformation of the news industry and who are seeking additional revenue streams/ideas.

One major problem I see at this time, is there is no system in place to validate the news stories found on these blogs and sites for accuracy. However, once a system is implemented to validate articles, this may become the preferred method of news consumers demand. Could this new industry be the end to traditional media?

(NYTimes.com)