May 14, 2009

The news industry's uncertain future | The rebirth of news | The Economist

The news industry's uncertain future | The rebirth of news | The Economist:

The Economist story on the future of news and news sources ends with this:
"But the only certainty about the future of news is that it will be different from the past. It will no longer be dominated by a few big titles whose front pages determine the story of the day. Public opinion will, rather, be shaped by thousands of different voices, with as many different focuses and points of view. As a result, people will have less in common to chat about around the water-cooler. Those who are not interested in political or economic news will be less likely to come across it; but those who are will be better equipped to hold their rulers to account. Which is, after all, what society needs news for."

I agree that the oligopoly of news sources, particularly the newspapers, in the U.S will give way to a multitude of sources. Democracy requires professional news gathering and reporting, but the delivery will change as will the payment/business model. Those who find the right answer online who are able to retain their solid news gathering will always have the TV news sources to compete with.

However, I should think that companies like AP, Reuters, The Economist, and others should be able to do well. At the local level particularly in a small market like Vermont, I believe newspapers will find it increasingly difficult to compete. Yet we need them for coverage of state and local government and the associated politics.

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