U.S. newspaper publishers acknowledged that growth in their Internet departments are starting to be a major part of their revenue stream, which will help the deteriorating base of their traditional means of delivery.
With readers moving online to get their news, it has forced the newspapers to follow suit. It is starting to pay off as it is growing fast, as it is suggested that newspaper's Internet input could be up to 12 to 15 percent of overall revenue by 2010.
One of the major problems mainstream newspapers have isn't that people don't want to read the news online, it's that there is huge competition from citizen journalists that offer a much wider array of thoughts and insights that make the narrower old media seem more irrelevant.
Overall the Internet makes up about 5 percent of the newspaper industry's overall revenue at this time, yet is growing at around a 30 percent clip annually. This is happening at the same time that their print offerings are dropping in readership while production costs are increasing.We are still in the early stages of this media shakeup and there is no way of knowing where it will all end up. I don't think that it can ever be the same again, and I'm not just talking about moving from print to the Internet. The whole industry has been shaken and the very concept of what content is and who will deliver it is at the core of the change.
Comment Preview