The daily newspaper is in big trouble. Readership has been down for years. Consumers just aren’t reading. The analysts like to totally place blame for this on younger consumers as they tend not to read or watch the news. The younger consumers we are told get their information via mobile, the web and radio in brief. That is true.
But, have the publishers and analysts dug deeper to look at the product? Simply stated, the daily newspaper today from The New York Times, Chicago Tribune, the Washington Post, Los Angeles Times and smaller ones are not as relevant as they once were. Oh sure, let’s blame it on Generation-Y. The papers have been sliced into smaller ones. We’re told, it’s easier for the consumer. It saves trees. By cutting a column or two columns, there is less news because there are less ads.
The Tribune Company of Chicago has filed for Chapter 11. The Journal Register Company, owner of the New Haven (CT) Register is closing some of its weeklies. The company, which manages joint operating agreement (JOA) that governs the Detroit Free Press (Gannett-owned) and The Detroit News (Media News Group-owned) is now publicly discussing the elimination of home delivery except for Thursday, Friday and Sunday mornings.
Media companies are slashing jobs faster than a moyhel can circumsize a seven day old boy.
They’re making the same mistakes that have been made by the broadcast networks, little three auto makers in Detroit and the so-called ‘legacy’ airlines. They’ve chased the consumer away.
Until they find ways to retain the consumer, we’re now going to see papers close down.