Tuesday, June 29, 2010

For newspapers, both good and bad news

The good news is that 57 percent of U.S. Internet users visited newspaper sites in May.
The bad news, according to Media Daily News' Eric Sass, is that it demonstrates how the industry has not yet figured out a way to monetize the sites. My view is that continues to demonstrate the industry's lack of imagination. We're living in an age of new forms of journalism. Too many newspaper companies seem to be just running out the string. Reminds me of how the owners of Pabst Brewing leeched off it for years (story about newest Pabst owner; story giving a bit of earlier history). Basically they cut and cut and cut, dropped R&D, dropped advertising, and just let the market die. Sounds familiar, huh?