From the Knowledge@Wharton site on blogging (bold emphasis added by me):
"At its most basic level, it’s a technology that is lowering the cost
of publishing" and turning out to be "the next extension of the web,"
says Wharton legal studies professor Kevin Werbach.
"Blogging is still in its early days. It’s analogous to where the web
was in 1995 and 1996. It’s not clear how it will turn out."What is clear is that opportunities for blogging abound.
Companies can use bloggers to put a more human face on interactions
with employees and customers; marketers can create buzz through blogs;
and bloggers can act as fact checkers for the mainstream media. There
are dozens of applications for blogs, Werbach notes, and many that
haven’t even been conceived yet … "Blogging is really driven by interest and desires, not
commercial activity," says Wharton marketing professor Peter Fader. "It’s rare to see something take off like this when commercial prospects are so minimal. People just want to share ideas."
… Werbach predicts that multiple business models will emerge. Individuals
ages 18-25 are spending more of their time online, and marketers need
to reach them. That means blogging could become a way to target the
most coveted audience for media.
If that isn’t an attractor for experimentation and innovation, I don’t know what would be. Read the whole Wharton article here.