The Future of Newspapers

Outside of newspapers, other interesting developments include a magazine created by Nokia and MTV that is produced entirely by their customers who send in content via text and picture messages. And sites like craigslist give traditional media owners something to think about. Classified revenues from accommodation, to autos and jobs, have moved online as has time sensitive information like stock prices and weather. The New York Times recently announced that is was cutting back its stock market price tables because so many readers were accessing this online. Meanwhile, The Washington Post has announced that it has hired the creator of Chicagocrime.org to create 'mashups' for the online edition of the paper.

So who will deliver tomorrow's newspaper?

The answer, apart from you and me, will include a mixture of mainstream media companies and brand owners. Mainstream media owners will increasingly divert investment into digital media platforms while companies like Nike and Procter & Gamble will create their own content. For example, see www.joga.com and www.homemadesimple.com.

And I don't believe that newspapers will totally die any more than I think that people will stop reading paperback books or stop visiting movie theatres. Part of the reason for this is historical but it's also psychological.

It takes time, often a generation, for one innovation to replace another. Newspapers are a ritual purchase and loyalties run deep. If you ask people in focus groups why they read newspapers some people can't tell you. "Because I've always read it" is a typical answer. That's brand loyalty.

Sticking my neck out a bit I'd even suggest that there could a newspaper renaissance around the corner. Many local titles are thriving because they are personalised. The news is local and advertising tends to be localised and highly accountable -- which is something that people are making a song and dance about in new media circles. For example, Fox Network is customizing its TV ads so that local neighborhoods can receive tailored TV commercials.

The other reason I think that newspapers could be making a comeback is the ubiquity of online media. Put simply, there is now so much digital content around that it's becoming valueless. Physical media in contrast -- especially content that is thoughtfully written, expertly edited and well designed -- cuts through.