The New York Times reports that the San Francisco Chronicle is losing $1 million every week.
Imagine that.
How long can this hemorrhaging in print media go on?
Recently an old co-worker from The Cleveland Press came into my bookstore (who now works for the PD) and we renewed an old acquaintance and talked about the shitty state of the business.
She agreed with me that print seemed to be on its deathbed and said the PD hadn’t hired anyone in. . . quite awhile. Not that she needed to fear that I was buttonholing her for a job - far from it. If offered a staff reporter job at the PD next to a GS-5 paper shuffler job with the Feds the choice would be ridiculously easy and surprising noting my personal history.
In any case, she seemed genuinely worried about the state of the business and articles like this one, talking about the plummeting ad revenue across the board.
What I found interesting was this:
Since the fall, when Media General, the owner of a major newspaper chain in the South, set its 2008 budget, “We have pulled our thinking down twice with respect to revenue,” said Marshall N. Morton, the chief executive.
Over the next few years, he predicted, “There’s got to be some assimilation,” with some major American newspapers going out of business or merging. At the corporate level, he said, “I would guess that rather than bankruptcies, you’d see combinations.”
Remember the Widget (the World Journal Tribune)? I remember the guy whose job it was to evict people from their Flint, Michigan apartments in the movie Roger and Me. He said when a poor man meets a poor woman and makes a house together, well, two poor people don’t make it together any better than one.
I can’t imagine that combining newspapers that are both hemorrhaging ad revenue is going to create a situation any financially better together than they were apart. Many of the newspapers that have folded in recent years, take The Cincinnati Post for instance, had joint operating agreements with the ‘competing’ morning daily and it wasn’t nearly enough to save them in the end.
This former co-worker said the biggest problem was that the future of news may be online but that traditional newspapers can’t make enough money online. Well, who does?
My biggest problem which I told her, as a newsie, was opening newspaper’s pages up to unattributed commentary which is cheapening public discourse. She agreed and said the matter was being discussed at the PD. I remain unconvinced that the PD will do the right thing. They’re not alone. I sense such desperation among print management that they’d try guest editorial page editors as a gimmick.
Imagine that - win a drawing and you get to choose the day’s columnists for the page and write your own lead editorial. Hey, can’t do any worse than Kevin O’Brien and might do appreciably better.
Or maybe revisit Wide Open Blog.
Nahhh.
My point to her is and remains that fossilized newspaper management has no one but themselves to blame for most of their financial difficulties. If it isn’t hamfisted and embarrassing attempts at appearing ‘relevant’ or ‘hip,’ it’s a slavish editorial obedience to Corporate America. Why should people be exposed to the same Corporate bullshit in print that they get bombarded with on radio and television? And when the average Clevelander (or working class suburbanite) opens up the PD, they see news and ‘lifestyle features’ more relevant to people in Pepper Pike.
The PD doesn’t lead like the Press used to. It’s merely a corporate status quo broadsheet that the vast majority of people read for entertainment tips, sports stories, comics or classifieds.
The PD offered me weekends for two months for $14 so I took it. I can still bulldoze the Sunday PD in about 30 minutes or less. That’s how much interesting reading I find in the Sunday PD. Even though I really can’t stand the New York Times that much either, I can usually kill a full hour with the Times National Sunday edition.
I see no hope for corporate print but they’re digging their own grave. They just won’t admit it. Ever.
“It’s going a lot worse than anybody predicted, and if we have double-digit ad declines for two years, some newspapers will be in real financial jeopardy,” said Edward Atorino, an analyst at the Benchmark Company. Even with less severe losses, “You’re going to see structural changes: papers could drop a day or two per week, they could outsource printing.”
And that will only speed their demise. Think of it in the same way that charging $15 for the first bag carried on the airplane is hastening the demise of the American airline industry. And more people need airline travel a lot more than they need the morning rag.
And will enough people read online only newspapers to make them any more financially feasible than print editions? They sure as hell won’t pay for them online so put that out of your capitalistic minds.
Seems like an insoluble problem.
