A very good piece by Bob Garfield in Advertising Age explains why not only print is dead, but the rest of the media as well.
The key is this quote from Randall Rothenberg:
“Today the average 14-year-old can create a global television network with applications that are built into her laptop. So from a very strict Econ 101 basis, you have the ability to create virtually unlimited supply against what has been historically relatively stable demand.”
Yes, I know I bang on about it. But this is at the core of the whole debate.
A lot of journalists and media folk get very upset about the decline of newspapers, magazines or TV news. They tend to blame it on quality issues, or the stupidity of media owners not charging for content, or the lack of investment in content, or whatever.
But, really, it’s a supply and demand thing. The barriers of entry to publishing have collapsed almost utterly over the past few years. In many ways it’s as easy to be a content producer as it is to be a content consumer. And more interesting. So it’s little wonder that the media is facing a perfect storm.
It’s well worth reading. And, seriously, this is a structural problem that won’t go away when the recession is over, and won’t be solved by tweaking the present model. The media landscape is changing irrevocably. Be ready…