As a news consumer I believe we are witnessing the end of printed-paper both in journalism and in published books. In 50 years time I think there will be a major decline in printed material and the vast majority will consume news on the Internet.
Why?
First of all updated data is more accessible today. According to the latest sales estimates made by the technology analysts at Gartner, 25% of sold cellphones in Q2 of 2011 were smartphones, which is an increase of 8% from last year. This indicates that very soon most of the society will own a smartphone and will be within a reach of Internet, receiving news directly to their phones. The Internet will always be more up-to-date than any printed-paper – once you print it, it becomes old news. Add tablets to the equation, which become more and more popular, it becomes even more convenient to consume news in other forms different than paper. These devices have one more advantage over paper – they digest the news for the consumer. It’s true that newspaper can adopt this feature and change their way of thinking about printing. But, why would you print something that at the minute you print it becomes irrelevant?
Second, with the environmental movement people are less keen to print paper and prefer reading online. When you hear that there is limited amount of resources in this world, you feel obligated to preserve trees and forests and think twice before you buy a newspaper.
Third, our society has changed. The end user is accustomed to reacts and responds to what he reads. It is much harder to respond to a newspaper than it is to news online. “The Web is the ultimate marketplace where ideas as well as goods and services are exchanged.” Said Lewis DVorkin (the Chief Product Officer of Forbes Media). On the web the reader can easily connect with the author, while in the newspaper you cannot.
Does it mean it’s the end of journalism?
I believe that it’s not the end of journalism. People still look for credible and authoritative data. It’s true that blogs by “common” people have become a real competition to journalists, but in my opinion there’s room for everyone on the web. I know that most journalists won’t agree with me, but I think it’s a healthy competition. Journalists have skills, which give them an advantage when trying to look more appealing to the mass. In addition, there is still added value to investigative journalism, that will very unlikely be replaced by unskilled bloggers.
What is there to do?
Like Dave Winer mentioned in his blog post “Readings from news execs”, I think most news executives are only just starting to understand that if they don’t do something quick, they will lose money. Uploading a webpage with the name of your newspaper is simply not enough to save this industry from dying.
Newspaper should start thinking about business model that will allow them to make profit from publishing content online, like the WSJ that charges a fee for every article. AdSense by Google is a great example of how to make money online with customized advertisement.
More and more journalists are starting a blog – we saw an example with Sharesleuth – understanding the advantages of web2.0 and embracing them to attract more traffic to their sites. Forbes has recently launched a new website, recognizing the importance of embracing the web advantages and the society needs instead of ignoring it. Forbes.com incentivizes experienced and knowledgeable content creators to build audiences around their own individually branded pages.
I hope more and more newspapers will change their perception regarding the Internet and either follow Forbes or find new ways to attract people to their website while making profit.
I leave you with this video that foresee a very scary future to newspapers in case they will not change their way of thinking: http://idorosen.com/mirrors/robinsloan.com/epic/