Media Monday – Print Blues and Online News
What a morning for media news – and I've just gotten through the New York Times. Who would be surprised that print journalism continues to lose advertising revenue to online search? Not many – but the numbers are shocking and the prognosis dire. Look for consolidation and failure to dominate the newspaper industry over the next couple of years, even as the journalism schools at Columbia and the City University of New York will receive $8 million from Dr. Leonard Tow to figure out how what's going on and how to plan the funeral for print journalism. Eric Pfanner reports that advertising executives "fear that [Google and Microsoft] want to extend their reach into traditional advertising" – and while some quotes in his article have a let's-make-nice ring, I doubt anyone other than Pollyanna is fooled. Meanwhile, internet users are spending more time watching online video, and live music and music downloads continue to displace CD sales as consumers shift their preferences. And while they are online, news outlets are struggling with ethical questions about control of information flow (following Tim Russert's untimely death) and catching politicians with their pants down, as the Huffington Post's Mayhill Fowler did recently.
