In a speech made to UC Berkley Graduate School of Journalism, Mark Danner highlighted a paradox within the rise of online journalism in the traditional newspaper business model.
Using the example of the New York Times, the leading and most authoritative newspaper in the United States, it appears that the amount of newspapers being sold is declining, yet, readership numbers are higher than ever. Danner compares the decline of print news as being similar to the effects that online file sharing had on the music industry, labeling the consequences for the industry as dire. Despite this he believes that the newspaper will survive both in print and digital format.
I agree with the second part of his statement. It is likely that there will always be a dedicated audience who prefer to read their news through a printed medium, however, as the internet continues to grow it is unlikely print newspapers will ever be as widely read or profitable as they were before the internet.
However, if the mainstream newspapers are going to find way to adapt to the digital audience, they need to realize that digital content is completely different from print and in order to generate revenue it needs to be marketed to a more specific audience. If publication is aimed toward a target audience, readers might be willing to pay for subscriptions and advertising could be tailored to appeal to the audience's interests. As evidenced by entrepreneurs such as David Parkin, founder of Thebusinessdesk.com, it is definatly possible to operate online and be financially sustainable.
Sources:
http://onlinejournalismblog.com/2010/01/18/nujs-making-journalism-pay-online-five-points/
http://lifeofwylie.com/2010/01/17/new-ways-to-make-journalism-pay-2/
http://gigaom.com/2010/03/28/what-does-the-future-hold-for-newspapers/
http://www.youtube.com/watch?v=DNPcQdNr7pU
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