Opinion: Murdoch: newspapers will survive
Posted by Rosemary D'Amour on November 17, 2008 at 4:09 PM
Unlike those he decries as "misguided cynics," global media mogul Rupert Murdoch believes that newspapers will reach "new heights" in the 21st century.
Although the print newspaper is going to face changes, "it will always be around," Murdoch said, in one version or another.
Although the print newspaper is going to face changes, "it will always be around," Murdoch said, in one version or another.
"Too many journalists seem to take a perverse pleasure in ruminating on their pending demise," he said in a speech entitled "The Future of Newspapers: Moving Beyond Dead Trees," relayed nationally by the Australian Broadcasting Company.
Murdoch, who is chairman and chief executive of News Corp., feels that the online world is a new market that needs to be taken advantage of. It offers "opportunities as well as challenges" to the newspaper, providing faster service to an audience that is "hungrier for information than ever before."
Newspapers are already a "source that people can trust," Murdoch said, giving them an advantage over new mediums such as bloggers.
Newspapers must be delivered in a variety of ways that are "flexible" for readers, evolving from a "physical item" into "news brands."
Although printed newspapers will see a "circulation decline," Murdoch says, if they keep delivering a quality product, their circulation online, on mobile phones and through RSS and email will actually increase. News and advertising will adapt to be customized specifically for the consumer, he said. The availability of news will multiply, and therefore the potential audience will multiply.
"To compete today, you can't offer the old one-size-fits-all approach to news," Murdoch said. He described his venture with the Wall Street Journal as using the newspaper's brand but tailoring to a consumer's desires. Three tiers of online content will be included for the WSJ: free news, subscriber news, and "premium service" which tailors financial news and analysis. This type of approach to news through a business model leaves Murdoch a lot of room for profit.
Journalists need to be "excited by the opportunity" that an online medium provides, Murdoch says, because the newspaper will continue to maintain its power and relevance "around society and the world."
Source: AP
Murdoch, who is chairman and chief executive of News Corp., feels that the online world is a new market that needs to be taken advantage of. It offers "opportunities as well as challenges" to the newspaper, providing faster service to an audience that is "hungrier for information than ever before."
Newspapers are already a "source that people can trust," Murdoch said, giving them an advantage over new mediums such as bloggers.
Newspapers must be delivered in a variety of ways that are "flexible" for readers, evolving from a "physical item" into "news brands."
Although printed newspapers will see a "circulation decline," Murdoch says, if they keep delivering a quality product, their circulation online, on mobile phones and through RSS and email will actually increase. News and advertising will adapt to be customized specifically for the consumer, he said. The availability of news will multiply, and therefore the potential audience will multiply.
"To compete today, you can't offer the old one-size-fits-all approach to news," Murdoch said. He described his venture with the Wall Street Journal as using the newspaper's brand but tailoring to a consumer's desires. Three tiers of online content will be included for the WSJ: free news, subscriber news, and "premium service" which tailors financial news and analysis. This type of approach to news through a business model leaves Murdoch a lot of room for profit.
Journalists need to be "excited by the opportunity" that an online medium provides, Murdoch says, because the newspaper will continue to maintain its power and relevance "around society and the world."
Source: AP
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