Tuesday, October 20, 2009
A Nerd’s Take on the Future of News Media
There are a lot of new technologies which already affect news consumption and future business models.
There are a lot of new technologies which already affect news consumption and future business models.
The FTC is planning public hearings aimed at figuring out how to prop up dying newspapers.
The decline of newspapers is a tragedy for democracy. How can it be stopped?
In newspapers’ game of revenue roulette, there’s a lot of talk lately about their trying to create membership plans.
Digital content has been available for years, but the right vehicle to consume the content has been lacking.
How can and should news organizations and others add value to the new news ecosystem that is being used in the Iran story?
Or to put the question another way: The New York Times keeps talking about how expensive its Baghdad bureau is and what a fix we’d be in without it.
When newspaper executives met in Chicago last week to discuss new business models for the industry, they expected to hear from Steve Brill about his well-publicized venture to charge for online content.
Is all this talk about getting consumers to pay for the news they read online really a front for something else?
The government’s stimulus plan won’t work as planned if we don’t get consumers spending again. But in the nearly $800 billion package, there is one thing missing that would surely help accomplish this: advertising. To get people spending again, and the economy moving, the government needs to provide help for businesses in America to advertise their products and services.
There have been a series of ridiculous articles lately claiming that, with the collapse of some newspapers recently, somehow investigative reporting and local coverage won’t work, meaning an era of corruption and the collapse of democracy. Fortunately, some are demonstrating the fallacies underlying these proclamations of doom.
The problem newspapers face isn’t that they didn’t see the Internet coming. They not only saw it miles off, they figured out early on that they needed a plan to deal with it, and during the early 90s they came up with not just one plan but several.
Bear with me as we recap last week’s 100-yard dash of media industry financial woe before breasting the tape of eternal doom. First comes ITV with its 40 percent profit decline, 600 redundancies and regional closures, then Channel Five making one in four people redundant–saving almost as much money as Channel 4 will gain from Kevin Lygo halving his £1m pay package. In print, things are no less unappealing.
How badly does the newspaper industry need new ideas? Here’s the story I often tell when that question comes up. The year was 2005, and I had recently joined the venerable Dow Jones from Yahoo, where I had led the team that helped build the financial portal. My job at Dow Jones was head of all consumer online sites, including WSJ.com, Barrons.com and Marketwatch.com.
The news that Google is placing ads on Google News has sent a renewed wave of hand-wringing through the newspaper industry. How dare those Googlers make online news a profitable business! Of course, Google is planning to keep most of that profit. Good on them!
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