The Times announcement is almost dog piling the evidence of just how bad things are for newspapers in the current environment. We have reported it here quite bit but it is important for the Internet marketing crowd to see what is happening to be able to see what opportunities may arise from this shift in the balance of power in media.
My hope is that newspapers will be able to do what radio did when it was proclaimed dead with the advent of TV about 60 years ago. Radio has become very viable again and has made the transition to online in a way that makes it important again. Is it as important as it was from a pure numbers standpoint? Maybe not but it is more relevant than ever because it can segment consumers for advertisers in ways that are very valuable. It has adapted and found its place in the new world order of media.
Will newspapers be able to make the transition? Too early to tell. The changes that the Times announced were removing sections and combining other areas to cut back on traditional costs like ink and paper for its print runs. Here’s a list of some of the casualties:
- Eliminate the Friday Escapes travel section
- Reduced local area focus
- The magazine will no longer have a regular Fashion feature
These efforts are all in hopes of keeping the newspaper viable without having to make too many more staff cuts and pay reductions. As talked about here the Times also owns the Boston Globe and has gone as far as threatening to shutter the paper if unions do not cooperate to create better economic efficiencies.
What I didn’t see that was probably more upsetting is the effort to improve the online presence and possibly even recognize that the shift that is occurring almost everywhere else is also being recognized by newspapers. Of course, just moving online isn’t a silver bullet because some papers are not even seeing that work as well as hoped.
Maybe the industry has done so much harm to itself from an integrity standpoint that the consumers of news etc are saying that they want different sources regardless of the delivery vehicle. Who knows but all things to be considered when looking at this sea change that is occurring across one of the most prominent traditional media outlets there is.