Opinion: Outlook for newspapers moving online is "bleak," with Google CEO Eric Schmidt

Posted by Sarah Schewe on July 17, 2008 at 9:25 AM

At a Beverly Hills Hotel conference sponsored by Adveritising Age, Google Chief Executive Eric Schmidt said that in the future, "You will put all your information everywhere."

According to the LA Times, "If someone were developing a series like 'The Sopranos' today, Schmidt said, the producer would keep the basic weekly format but add hourly instant messages with hints of action to come, a daily teaser at 8 a.m. and at 5 p.m. and a three-minute clip with an advertisement for a show sponsor."

Schmidt suggested that while professional producers of video content will adapt to the Internet and find ways to replace any money lost as consumer habits shift, the future was not so certain for newspapers. "Entertainment will be the first to get through this gate."

Schmidt, however, said the "bleak" outlook for newspapers is "a tragedy," in part because "investigative reporting is so important for democracy."

Source: LA Times