Greg Narain has a thought-provoking post:

It seems to me there’s a slight gap, let’s call it a blackhole, where the return on hyper local publishing has diminishing returns. Seems the distribution of interest has what resembles a Planck Distribution – does anyone remember these from school?

At the global and national levels, we’re interested and that increases as we get more and more local.  At the other extreme, there’s the “news” as it pertains to our families and friends – our personal news network if you will.  The gap, in the middle, seems to be where there’s a current leap of faith that there is tremendous interest in what we call the “hyper local” news.

Surely, there is evidence that people are willing to create this type of media content.  There’s even evidence that it’s being consumed.  Of course, that evidence is still sparse and, more importantly, not contextualized relative to the other spheres of media influence.