As the United States celebrates the lives and legacies of its 44 commanders-in-chief, social media is claiming yet another victory in its increasing dominance over traditional media.
Traditional print and broadcast media – and its most famous figures – may have taken a holiday on President’s Day, but social media platforms like Twitter and Facebook are putting in a little overtime to pick up the news reporting slack.
On Monday, social media platforms helped keep traders and investors informed of the late-breaking developments poised to remain in the headlines for the rest of the short work-week.
This morning, crude oil spiked above the $90 a barrel mark amidst rising Middle East tensions in oil-producing nations like Libya, an Arab country now enduring the type of civilian revolt that transpired in Egypt just days ago.
As a result, the panic widely observed in the futures market is keeping investors glued to their social media pages as the President’s Day holiday made it difficult for many mainstream media outlets to deliver comprehensive real-time news coverage.
Picking up the pace was Twitter, which saw an explosion of news and information, much of which originated straight from the Middle East.
Late last night, social media was responsible for breaking a story that almost instantly reached mainstream print and broadcast media. According to initially exclusive Twitter and Facebook reports, Libya’s Muammar al-Qaddafi fled to Venezuela, effectively dodging the out-of-control violence sweeping across the land he’s ruled with an iron fist for 42 years.
