Where Has All The Media Gone?

The Rocky Mountain News folded about a week ago with barely a whimper. A major publication for over 100 years goes out of business not because people don’t need to be informed, but because the newspaper industry was slow to react to the digital revolution.

Newspapers were fat, dumb and arrogant to their advertisers and readers. They kept charging ad rates that did not reflect the decline in their circulation because readers demanded real time information. So you tell me who is to blame for the newspaper demise? Please no bailout money for this industry!

The new frontier was online but the traditional folks (newspaper, television & radio) would not acknowledge that a new day was coming. When the earthquake finally hit their bottom line it was too late.

The major networks didn’t take CNN seriously when it started, and look what they’ve become. Memo to the tradional media folks - there is no longer a mass market! Massive niche media are filling the indivual consumer’s desire. You want to learn how to cook a good bowl of chicken soup? Watch Food Network. You want to know the score of your favorite team? Go to espn.com.

Sure today you can finally go to the website of your daily newspaper to get sports scores, but I’ve been going to espn.com for years – what’s my incentive to change? Don’t want to go to the web to get your scores? No problem, get them sent right to your cell phone.

The first ones to the party usually get the food and drink. Newspapers and major networks got there when folks were already cleaning up.

You snooze you lose.