The Rocky Mountain News, Colorado’s oldest newspaper service, is a prime example of the downward trend for newspapers. As the newspaper approaches its 150th anniversary, parent company E.W. Scripps has acknowledged that it is entertaining offers to buy the newspaper. Along with the Denver Post, a counter-part in the Colorado newspaper business, the two newspapers have seen a $100 million loss in classified advertisement reviews. The online publication of the Rocky Mountain News has more, which leads to the question, what caused the downfall of the newspaper?
Many have argued that technology has led to a decline in the newspaper. People now have the option of reading their news on-the-go from online sources on their mobile phones. Still others prefer to see their news in moving pictures and sound through 24-hour news networks such as CNN, Fox News, and MSNBC. Yet, newspapers have tried to adapt to this by offering online versions of their newspapers. Newspapers argue that their readers are loyal, and like the unique perspective that their writers offer, rather than the unbiased cookie-cutter stories put forth by some of the larger news agencies. And yet, newspapers online revenue continues to decline. In fact, it is projected that this upcoming year, broadcast TV will surpass newspapers in terms of ad revenue for the first time ever. MediaBuyerPlanner has more on this.
So, is this the end of the newspaper? Most certainly not. However, it appears as though a changing of the guard with respect to news is in full swing. The greater appeal of news through TV or online appears to be a growing trend that doesn’t appear to end any time soon. Newspapers will have to adapt their practices in order to prevent becoming a thing of the past.
Here is another very interesting video, related to this subject. Be sure to check it out - it's thought-provoking!