Newspapers in America, especially local ones, have enjoyed a monopoly for many years. But their revenues have fallen off dramatically as news fans have migrated to the internet for superior interactive news. I currently access all news through the internet, TV, and radio.
A recent study (the story) surveying 118 newspapers in the U.S and Canada indicated that 55% of newspapers are considering charging a subscription for accessing their news stories. Of that 55%, 22% are forecasted to begin charging you a fee by the end of the year.
Will you pay? The newspapers are stuck … not sure what direction to go in. Many of them failed to recognize how important, and powerful, the internet would become. This was primarily the result of a century old dominance that went unchallenged.
The gamble is that those who charge, even a modest fee, are likely to experience an even greater loss of customers (and revenue) when readers simply switch to some other free news source for the same stories.
News quality, integrity, and trustworthiness have declined in many of the familiar major news media organizations.
This sped the decline when newspaper editors and owners began pre-empting hard news with their political opinion and biased rhetoric. So not only did traditional newspapers miss out on the new technology of the future, but they offended their readers by inserting personal opinion where facts and hard news used to reside.
The Wall Street Journal, owned by News Corp., is said to have the best chance with the online fee-based subscription model. They reportedly have 1 million online subscribers already. However, the New York Times abandoned their fee-based system in 2007 when they were unable to maintain a sufficient number of subscribers to make the service profitable.
Local is very important in internet news as well as having a familiar portal like a geodomain name destination. Traditional newspapers often do not own a marketable city domain name to funnel local & international visitors to their news site. I predict that this will change dramatically in the next few years. Logical domains with a strong local identity are natural brands.
We shall see what happens with the online fee-based news model. A number of news outlets will rise to prominence when they go in the opposite direction. They stand to capture a huge number of online news readers who simply will not pay for news that is available for free elsewhere.
Also look for geodomain city sites to gain traction, and attention, in a new business model that keeps overhead costs low and which will win out by delivering quality, distinctive local news.
Internet Domains
newspapers