Posted on 04/21/2020 9:06:47 AM PDT by Bruiser 10
As journalists across the US scramble to cover the impact of the coronavirus, they are grappling with a bitter irony: as demand for their stories soars, the decline of the business model that funds them is speeding up catastrophically.
The devastating sweep of Covid-19 is the biggest story in a generation, and for most newspapers and news sites it has triggered record numbers of readers. Yet the virus, industry experts warn, will spell the end for “hundreds” of those organizations, laying off journalists and closing titles. Coronavirus: the week explained - sign up for our email newsletter Read more
Media outlets across the US have already responded to a huge drop in advertising triggered by the economic shutdown by sacking scores of employees. Some newspapers, just as demand is at its highest, have stopped printing – reverting to a digital-only operation that is just as vulnerable to the whims of advertisers.
The decrease in advertising was swift, as businesses tightened spending due to the economic impact of Covid-19. For a journalism industry already barely scraping by, the impact was almost immediate.
(Excerpt) Read more at theguardian.com ...
My personal hope is that the higher-education industrial complex is forced to reform itself also.
May most of them close their doors and return all of their assets to graduates to pay down their student debt.
There is one bright spot for many local dailies - obituary revenues are up.
Like the USPS, it will die via internet. I get better responses and information in a timely manner via the web.
May they suffer....
That’s correct. 😁👍
They were all on the brink before this.
They say this like it's a bad thing.
Newspapers have been declining for years. The economic downturn and lack of advertising revenue, due to the virus may be what pushes some papers over the edge.
While many papers have online subscriptions, they have found that online subscription revenue does not come close to offsetting the decline in sales of actual printed newspapers.
I read that actual printed newspaper circulation has declined between 30 and 40% in most cities just since the year 2000. Between the loss of sales revenue, and the fact that advertising rates have declined as circulation declines, has put newspapers in a financial bind.
Ah, the irony of FReepers cheering the demise of the news media.
Guess we can all hang out here and read each other’s vanities.
What we dislike is that so many in the media are liberal, and that their liberalism infects news reporting.
They have actual "Journalists" writting stories for them (as opposed to the propagandists of other papers, writting whatever the DNC tells them to).
Advertising is what drives so-called news organizations. I’m sure there was wailing and weeping when Bloomturd stopped his campaign, and I’m sure there will be plenty of wailing and weeping and layoffs until the virus situation stabilizes, but commerce needs advertising and what commerce emerges will need to advertise again. Meanwhile unpopular propaganda sites thinly disguised as new organizations will take a hit.
Maybe they can eat some of those barrels of ink they were always talking about.
Not seeing a problem here.
L
What are newspapers? I seem to remember - way - back when there was a source of NEWS but I haven’t seen that in years.
In other news, the buggywhip industry is on its last legs.
that’s a shame..
I’ve been involved in publishing and printing for the better part of 30 years and good people will lose their jobs while the slugs will find work providing propaganda for the state in another way.
Did it to themselves.
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