I guess we won’t have to wait until 2015 for the New York Times to go Internet-only in preparation for its "O.K-Corral"-like showdown with "Googlezon". In fact, it could be coming faster than you think! In an interview with the Israeli Daily, the owner, publisher and chairman of the New York Times, Arthur Sulzberger admitted that, “I don’t know if we’ll be printing in five years.”
He also added that, “The Internet is a wonderful place to be and we’re leading the charge there.”
This statement comes on the heels of the New York Times heading into year five of declining profits at the Newspaper behemoth. Also, within the past couple of weeks, the Boston Globe suffered a $540 Million dollar loss related to declining subscribers.
Many believe the writing is on the wall as the New York Times has 1.5 Million daily readers to its website versus the 1.1 Million daily readers for its print addition.
Finally, the world’s oldest newspaper, Sweden's Post-och Inrikes Tidningar newspaper, is going internet-only! I’m sure Queen Kristina, Sweden’s ruler in 1645 who founded the paper to communicate affairs of state to her subjects, is rolling in her grave…
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3 comments:
Thanks for posting the comment by NYTimes Chairman.
I definitely believe that electronic media will replace paper media in the future. But I doubt whether New York Times can find an online business model in five years or gain enough advertisement revenue facing the competition from Google and Yahoo? If it can’t, it has to print on paper.
Apparently print media isn't the only medium falling to the digital frontier.
Check out this Wall Street Journal article on the upcoming layoffs at MTV in preparation for a greater shift towards online media, including a projected increase of 500 workers in that area.
Perhaps this shift is connected to Viacom's approaching March 1st reporting of its quarterly results?
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