B2B Magazine recently carried articles on the the future of newspapers and newsweeklies. These two articles identified issues that have haunted me for a while. The news industry has sure changed from my college days at Mizzou. You can read the article by clicking on the links below.
With rising distribution costs and dropping circulations, it is only a matter of time. The news industry is suffering from Internet fatigue. People want news quickly, and the value of professional journalists as gatekeepers seems to appear less important. It is funny. Google doesn’t produce any original content. But the Internet (especially sites like Google) is helping to kill news content producers.
Some news brands still have a lot of public value. But the actual results for advertisers appears to be dwindling as ad dollars decrease at the same time. Some news companies will take advantage of the changes and will rise from the ashes to be stronger players in the market. This is not the final gasp for breath from a former institution. But it certainly is a clear shock to the system.
I believe the future of reporting will be…
-More collaborative. Newspapers need to work to involve readers more as extensions of their newsroom. This means that there will be greater need for fact checkers and editors.
-Print will be a luxury that people will have to pay a high price to receive. Most people will get publications via the Internet.
-Community publications will be the most profitable, sough-after publications. I believe there will remain a strong demand for very local reporting because people like to know what is going on with their neighbors, school sports teams, etc.
-Newsweeklies will have to offer premium content. That means something you can’t really find elsewhere.
-Electronic readers and e-paper will decrease the need for print publications. Customers will adapt and learn to embrace electronic readers as they become more like print and less clunky.
-More content will have to be put back behind the firewall so that only subscribers can read it. Too much free content makes it appear as if good information should be free.
-Many newspapers will go out of business. Journalists will look for work in related fields, such as truck driving. 🙂