Michael Beck
There isn't time for me to recite a complete list or even a good partial list of the challenges or changes we face on the business side the newspaper industry. I might be able to quickly list the things that haven't changed. But I guess that's not the question. So … here are three important themes from my perspective:
First, audience is the Holy Grail: The newspaper circulation decline shows no sign of abating. And although we're picking up some readers through the Internet, it's clear we need to find ways to connect better with people. Lifestyles are changing fast, and so must we. Obviously that presents a host of new challenges. We must be more flexible, relevant, interactive and engaging. We must develop the ability to personalize content and delivery. I think we must improve local content to gain audience.
Second, the advertising landscape is becoming increasingly fragmented: Many advertisers simply don't know where to put their money. To retain and gain our advertising market share, newpapers are trying a lot of things, including more ad-package bundling, more sophisticated sales tools and a much wider variety of products. Online options are dizzying and ever-changing. National classified networks, push technology and pay-for-performance models. In the end, how well we know and serve our customers will make the difference.
Finally, some of our basic journalism concepts are being redefined: Some examples –
- What are journalists? Are they citizens with an Internet connection?
Are they information processors or gatherers?
- What is community and what is our role? The effect of online,
the availablity of information and how people are networked play a
huge role in defining our local communities. How do we fit into that?
- What is credibility? Newspapers have lost it, I guess. Is that our fault, or did the rules of the game change? Some would contend, and I would agree, that credibility is no longer linear in the sense of a newspaper telling people what's important. Rather, the source that offers context, perspective and engagement at a variety of levels is most credible.
Not to long ago a friend reminded me of the old Chinese curse: May you live in interesting times. Well, we do.