Wednesday, October 29, 2008

The Business of News

Alright, this is NOT a banner day for the traditional news media. In an article in the New York Times by David Carr, Carr talks about the Christian Science Monitor ending its print publication, Gannett cutting 10% or 3,000 jobs company wide, Time, Inc. cutting 600 jobs and, and, and.....

It is time for the remaining media to regroup and choose a strategy. Entertaining the audience to death isn't the answer. Expecting advertising to be the core revenue isn't either. It's definitely part of the equation. However, it can no longer be the ONLY source of income. Think branding. Think substance. Think providing resources, connections, links. Think partnerships. Think merchandising. Think enterprising. You know what, just think. Stop trying to apply the old knowledge to a new problem. Be creative, be innovative, be transparent and take a risk.

2 comments:

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Kathryn said...

I agree. As a college student, seeing all of these jobs in the media being cut is scary. Though I think that the answer to the problem lies within Multi Media.