Social Media As An Accurate News Source

I just read an interesting article in the Marketing Pilgrim (blog@marketingpilgrim.com) blog about the increasing role of social media and its level of accuracy, or lack thereof.
 
As we all know, social media is rapidly becoming the preferred news source for many people, especially the Millennials. According to a recent survey, over 50% of people have learned about breaking news via social media rather than a traditional news source. Many people first learned about Whitney Houston’s death, the Osama bin Laden compound raid, the announcement of Kate and Prince William’s Royal Wedding and many other major events via Twitter or Facebook. 
 
Ironically, social media now often drives traffic to traditional news sources. Since 2009, traffic to news sites from social media has increased 57%. Social media is now dead-even with newspapers as a top news source (28%), it has already surpassed radio (19%) and is rapidly gaining ground on TV news (60%). For people under 30, I’m guessing these figures are probably reversed - much more than 60% use social media and less than 28% watch TV news.
 
However, the one concern about social media as a news source is its accuracy and credibility. Although the accuracy and credibility for B2B social media is certainly much higher than consumer-focused social media, there is still the question of the credibility of the person posting the story. But here again, the irony is that social media will continue to drive people to traditional media for more information.
 
What are your favorite sources of news and how accurate do you believe they are?
 
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