December 22, 2008

JAMES SUROWIECKI: Are Newspapers Doomed? “There’s no mystery as to the source of all the trouble: advertising revenue has dried up. In the third quarter alone, it dropped eighteen per cent, or almost two billion dollars, from last year.”

He also suggests something that I’ve noted in the past — we may have been getting more news than we (that is, the market) actually wanted (that is, was willing to pay for) due to cross-subsidies from things like classified advertising. With those gone, we may wind up with less news. I hope not, but it’s a plausible scenario.

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