On Newspapers

I work in an industry that many have described to be following in the footsteps of the dinosaurs.

Slow, clunky , resistant to change and inability to change is slowing and surely rushing it to its certain death.

There’s even this website.

A dying Trade?

Apparently people are no longer willing to pay for news and advertisers are leaving as readership drops.

It doesn’t help that the shift to digital is inevitable. Newspapers that are shifting to the Internet and successfully moving  their readers to the digital platform are not making as much revenue from advertisers per reader as compared to print.

New business models for News companies

The crunch appeared to have churned out three new business models for the news industry thus far.

1) The pay wall model

The two most “successful” implementers of this model has got to be The New York Times and Wall Street Journal. Their increasing digital readership show that people are willing to pay for news.

One thing to note though, these two news publications are the creme of the crop in the news business, it’s not just ANY news the public will pay for , its quality news.
But the companies may have to look at other sources of income or change the way their operation works instead of depending on digital advertising revenue to cover the lost revenue stream.

2) The survival via charity model

If running it for profit does not work then what about running it as non-profit?
It’s not known conclusively if this is feasible in the long run.

Ford Foundation recently pledged 1.4 million to the ailing Los Angeles Times and the term philanthrojournalism is not a dirty word whispered by the capitalists around water coolers.

3) Make it free and they will come model

Across the pond, newspapers like The Guardian and *The Mail have decided that they will take the opposite route from their U.S counterparts and offer their digital news for free.

As a fan of Guardian’s news reporting, I support this decision by visiting their site almost daily. I sincerely hope that their strategy of offering quality content for free in exchange for a huge readership and thus translating to advertising dollars plan will work.

Thus far, the company is making a loss.

*The Mail has moved to a Paywall model.

It’s not Dying, its Evolving. But the dinosaurs will have to become extinct.

Everything evolves, nothing stays the same.

But the newspapers that did not, refused to or simply unable to change their business model are dropping like flies.

In a way, culling is occurring and whatever value is being said about content, people DO appreciate good content and news reporting.

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2 thoughts on “On Newspapers

  1. URL says:

    Some actually quality posts on this site , saved to favorites . 201518

  2. This is an outstanding write-up and I completely comprehend where your coming from within the third section. Perfect read, Ill regularly follow the other reads. 398816

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