There’s one question looming large in the newspaper business: Will newspapers be able to survive in the current landscape of dwindling print advertisement revenues and a readership that’s ditching their print subscriptions in favor of online outlets?
At least there are a bunch of posts asking that question. I wanted to point out one in WalletPop awhile back, and one in the blog for the Good Men Project.
The post in the Good Men Project blog highlights the foresight one paper’s CEO had to sell to a larger media group and cashed in personally on the deal. While it’s a good story about one man who saw the problems with the antiquated business model, to me it’s more a story of that man’s greed paying off for the only person in the equation he cared about: himself. Sorrardly “Good Man” behavior.
The WalletPop article contains a good summary of the problems plaguing the industry. The corporatization of newspapers and free advertisement services like Craigslist have contributed to the demise of many stalwarts in the newspaper business, the author says.
Both posts are fairly well written (minus each containing minor spelling errors, which the WalletPop article bemoans as rife in blogs, ironically) and provide insight into a business that seems to be failing more every day.
But they, like so many posts in recent months on the situation, are heavy on the opinion and light on offering any sort of solution. Julie Tilsner, the author of the WalletPop article and herself a former journalist, does offer that small-town and neighborhood newspapers may see a resurgence as people realize the need for local news. This is a good suggestion. I’d like to see more, though. There are enough questions, we need more answers.
Unfortunately, I’m not in a position to offer any concrete game-changers, but hopefully in answering some of these questions we’ll be closer to a workable solution.
– How can a newspaper provide more of the multimedia (video, audio, picture slideshow) content that readers are going elsewhere for, and make money off the content?
– What role might innovations like Kindle have on retaining newspaper readership, while eliminating the need to wait till the next day for news?
– Are blogs like the two mentioned actually profitable, and where does their revenue come from?
– How can reader-friendly social media like Twitter and blogs be used by news organizations to increase revenue? Or is it just something fun that doesn’t make any impact in the bottom line?
What do you think? Where do you get your news? Do you pay for it? Or if not, do you spend money somewhere related to the news provider (e.g., clicking on ads, buying photos, etc.)?
April 27, 2009
Categories: Media industry . Tags: Blogs, Jobs, New media, newspapers, Social media, Twitter . Author: cubscanes . Comments: Leave a comment