Cale Guthrie Weissman reports for Fast Company, “New York Times executive editor Dean Baquet has a bleak forecast for the future of print media. Late last week at the International News Media Association World Congress, the editor spoke about the state of journalism, the world, and the newspaper he runs.”
Weissman reports, “When asked about the future of newspapers, the executive editor said: ‘The greatest crisis in American journalism is the death of local news… I don’t know what the answer is. Their economic model is gone. I think most local newspapers in America are going to die in the next five years, except for the ones that have been bought by a local billionaire.'”
“A recent Pew Research report found that, despite the fact that most Americans believe local news organizations to be doing well, very few are actually paying for those subscriptions,” Weissman reports. “And while print advertising continues to plummet, more small outlets are shutting down.”
Read more in the full article here.
MacDailyNews Take: That sounds like a solid prediction. The only people in our neighborhoods who still get physical newspapers (which are all about 1/4th the size they were when we last read one before the turn of the century) are 75+ years old.