By Linda Forrest
I read a controversial piece yesterday on Mediabistro. Apparently, President Obama has been quoted as saying that he’s open to looking at bailing out the newspaper industry. My personal opinion is that a bailout isn’t what the newspaper industry needs, for reasons I’ll get into shortly. But first, I’d like to talk about the news industry’s PR problem.
A direct quote from the president said the following, “I am concerned that if the direction of the news is all blogosphere, all opinions, with no serious fact-checking, no serious attempts to put stories in context, that what you will end up getting is people shouting at each other across the void but not a lot of mutual understanding.”
What this says to me is that the news industry has a PR problem, is poorly understood by even the highest office in the land (one whose media-savvy campaign largely propelled him into the Oval Office) and is struggling to find its identity as news formats shift from dead trees to zeros and ones.
There is a common misconception that online news is strictly commentary, often characterized by the opinion-based content to which President Obama refers. Reliable and intelligent news is well researched, fact checked and placed in context, regardless of whether it’s online or off. Until this fundamental understanding is well communicated and well understood, and until the industry adheres to its own best practices, the news business will remain the subject of much consternation.
As to why I don’t believe the news industry should get a bailout? I had a ringside seat for the spectacular downfall of the music industry. Having studied the music industry at two post-secondary institutions (yes, Virginia, there really is rock and roll school), I learned about its outmoded revenue model and watched as the record labels clamored to find alternative revenue streams. In short, the industry failed to adapt to the consumer’s wants and needs and so those consumers simply circumvented the record companies.
In much the same way, consumers of news no longer want or expect to wait until tomorrow to see the news in print; rather, they want the news when they want it. The journalistic integrity of marquee outlets remains strong, whether people are consuming their news in print or online. Some of our clients’ most important media targets are strictly online; this does not diminish their impact nor their influence on the purchasing decisions of those holding the purse strings.
Rather than bail out an industry so that it can maintain an antiquated way of doing things, let these outlets find new and current methods for getting their product out to the consumer. Let’s hope the news industry learns something from the shoddy example set by the music industry that clearly missed the boat.
