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print media decline « Previous | |Next »
November 5, 2005

An article in The Age by Leonie Wood entitled, Newspapers' dog days - getting on with online', gives an accurate accurate of the current decline of the print media. She says:

It's the time for lay-offs in the newspaper industry, a time when publishers around the world are thinning the ranks of journalists, newspaper administration and support staff to counter sluggish revenues.It's a phenomenon not limited to John Fairfax Holdings...A swathe of venerable newspapers have taken the knife to staff numbers this year....Newspapers are facing a crisis. Advertisers are plumping more of their marketing dollars into internet sites, including Google and Yahoo!, and business papers such as the FT are losing ground to real-time news providers, such as Bloomberg and Reuters.

The justification for the layoffs is cost pressure due to advertising streams starting to dry up. A deeper cause, however, is that the audience is moving somewhere else--it is increasingly shifting from newspapers to online sources, from free-to-air TV to pay TV. If the big newspaper companies around the world do not learn how to turn their print audience into an internet audience, then they will continue to decline. So newspapers should be smart and use their journalists to develop their online presence and content, not lay them off.

Wood says that:

The challenge for newspapers is to deftly graft the content produced in the newsroom to online sites and aggressively cross-promote at both ends, from print to online and vice versa, without compromising the editorial quality. It also means being smarter with advertising strategies and bundling ad prices
.
So how do they do that? Nobody is really sure. What is obvious is that Fairfax is not being very creative.

| Posted by Gary Sauer-Thompson at 1:09 PM | | Comments (1)
Comments

Comments

Good point. Growing and better managing online presence is a must for newspaper companies. Taking print content, and directly publishing it to their website... That's a big mistake, from my POW.

You can take a look at this article I personally quite disagree with the idea of blogs challenging traditional media. Even more, I think, blogs, as they are today, can be at best "an effective marketing tool" for traditional media companies.

You can take a look this article where I discuss Blogs vs. the "Real" threats to traditional media, and offer my point of view, what can they do to better manage the situation...

The greatest enemy of traditional media: Blogs? Don't be silly! What is the real enemy then?

Best,