Newspaper

The current problems of the newspaper industry are declining readership, declining advertising revenue, newspaper closing, layoffs, and bankruptcies. These problems were not new; they have been around since the 1990s, but the economic downturn during the last part of the decade and the growing audience shift to the Internet as a news source changed things FASTER than anybody expected.

The state of the newspaper industry in 2010 resembles the state of the recording industry in 2000 when the business shifted from selling tangible items (CDs) to selling intangible items (digital downloads). The newspaper industry is now making the same transition. Its future may no longer lie with tangible items (papers) but with intangibles (Websites).

The abundance of blogging communities and multiple sources of information in this digital age put the future of the industry into a huge risk. People love to check out news on Wikileaks or other sites that are recommended by their friends/connection instead of traditional approaches, buying a newspaper at local stores. People are waiting to see whether the newspaper industry go paperless and when it will really happen.

Source: Dominick, J. R. (2011). The Dynamics of Mass Communication, Media in Transition (Edition 11th). New York: The McGraw-Hill Companies, Inc.

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