As the newspaper industry continues to struggle with the issue of how to make money in a seriously shrinking market, there is one bright spot. Many newspapers are featuring blog networks that are generating significant traffic, as well as content that is finding its way around the web.
In a recent blog post, Jay Krall, Cision’s Manager of Internet Research, notes that newspaper blog networks “could represent the future of news.” (Cision is a client of Aquarius Advisers). Krall lists as examples, 10 regional daily metropolitan newspapers that have highly active blog networks, as well as the more highly trafficked blogs at the country’s two national papers, USA Today and The Wall Street Journal, and papers in major metropolitan media markets.
The great news is that the major newspapers know where they need to be in order to generate interest and stay at the forefront of readers’ minds. The bad news is (and it gets worse on a daily basis) they have still not figured out a business model that allows them to come close to regaining the lost print advertising revenue. The issue, however, has moved beyond regaining revenue and figuring out how to build a new business model that works.
As a former reporter and editor, I have sadly watched the slow (and now not so slow) destruction of this once great business. And while I have become a fan of blogs, I miss the editing, depth and accuracy (well most of the time) that newspaper stories delivered. Many of the blogs and microblogs I read or participate in are great for breaking news and rumors, but it is that ability to read deep into the story that is usually missing there.
I still read at least 2 newspapers a day, the print version, and am happy that they are still around. My hope is that the newspapers get it right, figure out how to make money on the web, and continue to deliver the kind of reportage and stories that I and many others I know prefer. In the future, I may not have to wash ink from my hands, but I still will be able to get my newspaper fix.
I keep hoping the official news media will perform some sort of quality assurance function in their support of blogging. For years traditional journalists have been required to check and double check their facts, before going to press. My only worry about the growing reliance on blogs as a means to communicate the news is that no one appears to be vetting the facts before going to the digital press. Sure, it’s all entertaining, but there is a point where harmless gossip and humorous supposition leaps the chasm into harmful rumor mongering or malicious slander and libel.
Mel, I think it’s a great point you raise that many newspapers are still trying to figure out how to deliver on the Web the more in-depth analysis that readers have come to expect in print. I think the excuse that’s sometimes trotted out about Web readers having shorter attention spans will, in the end, ring hollow. As competition for eyeballs online continues to grow, depth will prove to be an asset for newspapers. Thanks, Jay