Nice little piece from the Wall Street Journal's online opinion (read: blogs) section on how a small chain of New York community papers is making money. Biggest reason? Hyperlocal news and no debt. Points out that the papers never depended on classified, so haven't lost that. Probably never got much automobile, real estate or entertainment listings, so haven't lost that. Just plugging along.
Be sure to read the comments. The first is from a reader saying that an online paper would be doing even better. Article author Daniel Akst replies that there is no evidence that online would have the advertising -- since no one that I know of is making much from online advertising. I'd also suggest that people notice paper newspapers, but online web sites are easy to forget. Several of my friends are now writing for onmilwaukee.com, but I just don't remember to check the site on a regular basis, but I still pick up paper newspapers every edition, including the Shepherd-Express, Milwaukee Community Journal, RiverWest Currents, UWM Post (I, of course, read the Marquette Tribune both online and in paper), and Onion. That's in addition to reading the Journal Sentinel, Wall Street Journal and New York Times every day.
The point isn't what I read (and I do look at a number of newspapers online), but studies among college newspapers have shown that if they discontinue their print editions in favor of online-only, not only does their advertising dry up, but their readership disappears. The convenience factor cuts both ways on online publication. Sure, it's easier and cheaper to find, but it's also easier -- much easier -- to ignore.
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