The Newspaper Industry – How bad is it?
Just a quick one today.
Was reading a lead from one of our Twitter Followers about the issues facing the US newspaper industry.
I won’t go into detail, however it is an interesting read that outlines the following (quoted from The Boston.com site).
“Newspapers have been hit hard by the loss of readers and advertisers to the Internet, while the national economic slowdown has intensified the advertising slump. In recent months, the Rocky Mountain News has closed, the Seattle Post Intelligencer has significantly reduced staffing and moved entirely onto the Web, and several major newspaper companies have filed for bankruptcy protection.
The New York Times Co. threatened earlier this month to shut down The Boston Globe unless its labor unions agree to $20 million in cost concessions, including pay and benefit cuts. The Globe is on track to lose $85 million this year, executives told labor representatives.”
Personally I like to read a newspaper from time to time, however I can’t really get the global coverage in all the areas that interest me in one paper – I guess it’s for this reason that I love being able to read online news stories from tech to business in all parts of the world. Also in another article discussed earlier here – we spoke about the new emerging market … the kids of today. They just don’t read the paper at all – that blog post here
I agree with you, but there are many corporation like the newspaper industry, we need it, what can we do?