Newspapers In Crisis
Monday, December 22, 2008 10:39James Surowiecki has an interesting article in the New Yorker that crystalizes the problems facing print
newspapers today and explains why we may soon be seeing more major newspapers filing for bankruptcy, as the Tribune Company did last week.
“There’s no mystery as to the source of all the trouble: advertising revenue has dried up,” writes Surowiecki, but the “peculiar fact about the current crisis is that even as big papers have become less profitable
they’ve arguably become more popular,” with the blogosphere piggybacking on traditional journalism’s content. Surowiecki imagines many possible futures for newspapers, from becoming foundation-run nonprofits to relying on reader donations to deep-pocketed patrons. “For a while now, readers have had the best of both worlds: all the benefits of the old, high-profit regime — intensive reporting, experienced editors, and so on — and the low costs of the new one. But that situation can’t last. Soon enough, we’re going to start getting what we pay for, and we may find out just how little that is.’”
Source:
http://news.slashdot.org/comments.pl?sid=08/12/20/2124218
http://poncacityweloveyou.com/
http://www.newyorker.com/talk/financial/2008/12/22/081222ta_talk_surowiecki
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Posted by: Geoff Caplan
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