On “Morning Joe,” this morning they had a piece with Tom Brokaw talking to a small town newspaper – it was apparently famous for its founding editor who was a confidante of Presidents, but its name escapes me. The newspaper industry is obviously struggling. But, they mentioned two smart things that I think will help that newspaper survive if any of them can.
First, they are focused on local news. That’s important. That’s value that isn’t so easily duplicated by online sources. Wire feeds and international news are generally the same to you no matter where in the country you live. So, getting that information from a local newspaper doesn’t really matter. Local news is, by definition, tied to place; so it’s more stable.
The second thing, related to the first, was their focus on putting a lot of local names on the front page. People are going to buy papers to read about themselves, their friends, and their neighbors. Hopefully this can be done in a non-cynical manner. I had a friend who worked for an Indiana business magazine which seemed to have as a business model writing about companies for the sole purpose of selling copies to those companies. Still, writing about people in the area is going to make people more inclined to buy the local paper.
Of course, this sort of thing is fairly labor intensive and not easily scalable, so mega-companies like Gannett probably aren’t so interested in this kind of business model. I presume they want a product they can create using few people and sell to as many people as possible. That’s understandable but not, I believe, a sustainable long-term business model in the news industry. Seems to me that Gannett is extracting the value from old newspapers and will, sooner or later, abandon their used up husks like a played out mine.
“Abandon husks like a played out mine.” Holy mixed-metaphors, Batman! I could probably use an editor.
I think you should hang on to your husk, in anticipation of the coming “Cash for Husks” stimulus package.
You will need to get a new, higher mileage husk to qualify, of course.
I’m afraid the Farm Bills approved every 4 to 6 years for the last 40 years have subsidized husks beyond counting; and they have been widely supported by those who vigorously claim to be in favor of small government and opposed to socialism.
Along with sugar and ethanol tariffs/subsidies… (sigh).
Anyone know if we ever got rid of the mohair subsidy from after WWII?
Doug:
Any profitable newspaper has enough print advertising to allow for some editorial space known as the “news hole.” If the prints ads go, so does the news hole. Print ads are obsolete especially for big ticket items such as homes, cars and furniture. Once retailers do not have to adverstise in newspapers, it is over.
I agree with your point about local news content. I think the model that will emerge will be many internet producers of content who will compete to get the information out. Example: your blog. Also, see amateur sports blogs. Some are horrible, but the ones that are getting better have more of a neutral, newsy tone.