There used to be a time where newspapers were the only source of information.
For many, that’s still the case.
However, as time evolves, newspapers will no longer be necessary. News will still be required. Newspapers, as a medium of distributing that news, will not.
Why? Because of blogs, Twitter, Facebook and other online mediums.
- Blogs: From the early AM to after dinner, I always have access to content published by blogs via feed readers. These are blogs I’ve selected because they write about topics that I’m passionate about. Newspapers don’t do that. They cater to a general audience. And, in a digital world, generalizations don’t work.
- Twitter: Similar to blogs, I follow certain people that write about interesting things. It doesn’t all have to be about business. By using Twitter lists, I can immediately sort out people that I read occasionally vs. people I read every day. For example, I learned about Saturday night’s bomb scare in New York City via Twitter. And, as Twitter applications continue to improve, I’ll be using Twitter as a news and entertainment source.
- Facebook: I use Facebook to keep in touch with friends and family. These are people I’ve either spoken with or have met in-person. They share photos. They share videos. They share jokes. Above all, they share information. This information is relevant to me, because my Facebook connections have similar interests.
- Other: Today, a lot of my news is also derived from audio podcasts. As someone who commutes 10 hours a week, audio podcasts are a great way for me to keep up with analysis and debates.
There’s no doubt that the web has put a significant financial strain on newspaper models. However, the future of newspapers is still unpredictable. By focusing on what’s relevant to the consumer, publishers can jump start newspaper businesses.
Publications like the Wall Street Journal and Financial Times are better-off today because they focus on a niche. While that niche is still broad, it’s better than something like the New York Times.
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