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Requiem For A Newspaper, Part IV: Time For The Times
Posted By Dylan On January 21, 2009 @ 11:21 pm In soapbox | Comments Disabled
Most of my focus in this series has been on the P-I, whether it’s viable as an online news site without the print side of things, and how we’re going to have to confront the possibility that we’ll be a zero newspaper town in the coming years. A few people, though, have reminded me that the Seattle Times, despite their tenuous financial position, is not dead yet. Indeed, shutting down the P-I buys the Times as much as two years to try and come up with a way out of their financial troubles. They will keep their ad sales team while no longer splitting ad revenue with Hearst. They will inherit P-I subscribers (though how many remains to be seen). And they own their own press and their own buildings.
But how much of this is a virtue for the Times? The end of the JOA has the same double-edged sword of a messy divorce settlement — while the ex-wife may get the house and car and leave the ex-husband with nothing, the ex-husband doesn’t have to make the mortgage payment and car payment or pay for their upkeep. He walks away with nothing, but he owes nothing. She walks away with everything, but now she has bills to pay. And so, while the Times is left trying to maintain their old business model and union contract in order to keep the presses running, Hearst is left with no financial obligations and can opt to pursue an online news site without worrying about keeping the presses running.
The Times is still viable. But they have some hard decisions to make. Even though they were one of the first papers to go online — and one of the earliest to realize that not charging for content online made the right business sense — they’ve ossified in the last 5-10 years. Comments on news stories are a recent innovation for them; the P-I was doing it in 2006. Times blogs have been furtive and mostly focused on their writing staff and their own navel gazing; the P-I used Reader Blogs to increase their coverage. As a result, the P-I has been ahead of the Times in web traffic for over a year, opening up a 500,000 unique user lead in December [1].
So, with their future on the line, here are my suggestions for the Times if they want to stay viable.
At the end of the day, the only way the Seattle Times is going to become the future of news is to embrace the future of news. And that means a cohesive online strategy that’s reader-centered, open, and transparent. If they take the opportunity Hearst is handing them, they’ll still be around when the online news site business model is viable and merge right into it. If they don’t, either Hearst’s online P-I will roll right over them, or another online news company will push them aside, or they’ll just go belly up on their own.
Hearst is giving you a gift, Mr. Blethen. They’re giving you one last shot at getting online news right. Will you take it? Or would you rather rant about the estate tax some more while your empire burns?
Next up: We know newspapers aren’t profitable, but what about a non-profit newspaper?
Article printed from Seattle Metblogs: http://seattle.metblogs.com
URL to article: http://seattle.metblogs.com/2009/01/21/requiem-for-a-newspaper-part-iv/
URLs in this post:
[1] 500,000 unique user lead in December: http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003932980
[2] banhammer: http://en.wikipedia.org/wiki/Banhammer
[3] Geoff Baker: http://blog.seattletimes.nwsource.com/mariners/
[4] USS Mariner: http://ussmariner.com
[5] Lookout Landing: http://lookoutlanding.com
[6] Berliner: http://en.wikipedia.org/wiki/Berliner_(format)
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