As seen over the last couple of years the journalism industry has been in a state of chaos. From the depletion of staffs, declining numbers of subscribers, newspapers going bankrupt and a decline in ad revenue, which acts as the number one source of income.
Over the past 2 years the ad revenue in the media is down 23 percent. Another concerning fact is of all of the journalists working in 2001, 20 percent of them are no longer working in the business. (http://www.stateofthemedia.org/2009/index.htm)
The question is how is the media going to overcome this tragic downfall. The answer lies in the World Wide Web. The amount of Americans going online for their news is up 19 percent over the past two years. (http://www.stateofthemedia.org/2009/index.htm) This is positive news for the industry but leaves the door wide open. It is clear that for the media industry to survive they must come up with and adopt a plan of successfully making a profit online. With more and more readers going online to obtain their news this needs to be the focus.
I think that there will always be newspaper and broadcast news whether it is local or cable. There is no doubt in my mind that these industries will survive. But I think for both of them it is important to establish profitable online content. If a method can be constructed to turn a profit off of online content, it will be the difference maker in the industry.
With the online battle waging, the news media is taking on a new beast. They are taking on a more educated younger class that is relying on the Internet for news. From news sites to social networks, the younger working generation that is the future audience for media companies is whom they are trying to attract. As a member of this generation, I can say I do rely heavily on the Internet for my news. I would have to say that if I had to pay to read the news on the sites that I currently get my news from, I probably would. If a person has a preference about their news and it is important they will pay.
The future of journalism relies on a solution to the Internet crisis. Until a resolution is drafted and adopted, the issues and struggles of media outlets will continue into the near future. Although I am not a subscriber I grew up with the paper at the breakfast table every morning and still have the experience when I am home at my parents house. There is nothing like have the paper in your hands at the breakfast table. Never will a computer be able to imitate this feeling and enjoyment in the morning.
Long live the paper and good investigative journalism, both in print and broadcast!