All of these factors, from cheap publishing to the change in business to the loss of classified ads, have contributed to the collapse of the newspapers. Newspapers used to enjoy a "scarcity" advantage. Only newspapers could afford to "profitably collect, print and distribute the day's news, and it could raise prices even as it delivered fewer readers each year. Monopoly newspapers were able to deliver huge profit margins. They enjoyed this advantage up until recently.
Thus it is essential that the internet is a very important positive development for news reporting. First of all, the internet provides the easiest way of publishing and updating news reports to everyone. Considering the publishing issues there is a huge popularity and technology about the internet.Then it means that todays leaset developed mobile phones could access the latest news because of the internet and its facilities. (Sanger, 2010). But there is a point that you are not only get informed about news just having a device that could access the internet, you may also get informed by the people around you due to most of the people can access to the internet.
The Newspaper Industry According to the Mintel’s report on National Newspapers, It showed that readership of National newspapers has been on decline even before the arrival of the internet. This was due to the increase in competition from other news sources like 24hrs T.V and Radio broadcasts. People found it easier more accurate, reliable and up to date to watch or listen to the news than waiting to read it on the papers the next day. News was being broadcasted on a regular basis as compared to once a day on the printed newspaper. Even though this was later improved as most newspapers started having two editions of the same paper being printed twice a day, the Morning edition which mainly covered the news stories that had developed the day before and Evening edition which is more up to date with the stories that happened on that same day.
Younger generations tend to be more computer literate and have grown up with television and media more accessible to them than the previous generation. These trends not only reflect in American culture, but in other countries worldwide such as Italy, and Germany. Quoting a 2003 fox news interview of President Bush, Wattenberg illustrates the vast decline of newspaper consumption; even the U.S. President isn’t reading newspapers (11). Using tables throughout chapter one to illustrate the drastic differences within the last 50 years, the author exemplifies a 35% point decrease from 1957 to 2004. He speculates that perhaps young adults don’t like to read, but proves that is not the case as surveys have shown that education levels have risen overall, and access to books and reading has also increased over the years; thereby concluding that young people read, but do not typically read the newspaper.
Readers have shifted their attention to online media sources, causing a decrease in print circulation and advertising revenue. Though there has been a rise in online advertising, the revenue is not increasing fast enough to fill the gap left by decreased print revenue (Economist). The shift towards digital media has raised other concerns that may impact the profitability of news corporations. Journalists and news organizations rely on credibility for readership and business. However, there is a general lack of trust in information obtained from the Internet (Credibility).
63). The industry has also taken a huge hit because in 2012 30% of the industry was cut down and no more than 40,000 journalists were full-time (Anderson, 2004, pg. 63). That affects daily news stories and has made major players in the newspaper business drop out purely because it cannot support to keep running. With the declining numbers, it would seem as if the industry has taken a dive, but the industry itself hasn’t lost any content it is more around the fact that the people believe they do not need journalism anymore.
However, the internet now offers news and information to these same people, free of charge and on demand. The development of online news has therefore resulted in its overtaking newspapers as a popular source for news (Pew Research Center , 2008). Reasons for this occurrence are evident when analysing modern lifestyles in technologically advanced countries. Instant access to services such as fast food and online banking is a distinguishing feature of this decade, and access to news conforms to this trend. Increasingly common internet-enabled phones allow users to access diverse news content wherever they happen to be, whereas in previous years a newspaper was the only portable choice (Reardon, 2007).
This is a drop from the results produced in 1987, when a typical home would receive one personal letter every two weeks. If handwritten letters were compared with emails, yes, it would lose based on ease, convenience, and speed of delivery; however, it would win based on value, impact, and emotional sentiment. It is tragic to witness letter-writing, a form of art to some people, slowly dying out, losing to an alternative. The lost art of letter-writing deserves to be revived, because there are so many characteristics of handwritten letters that trump those of a typed email. I was not really aware of the rarity of letter-writing until the time came when the only means of communicating with my brother at boot camp was through letters, and I found myself dropped in new territory.
The future certainly looks grim just by looking at the major index’s performance, but that is not the only thing we have to worry about. Consumer spending fuels two thirds of the economy and consumer confidence fuels consumer spending. So far this year, consumer confidence has been dropping drastically. People have still been spending at about an average rate, but as the market continues this downward spiral people will definitely begin to hold onto their money a little tighter. Everyone knows about the big tax cut George Bush is promising us, but how much will it really help the economy?
Diversity in the newsroom is an important issue in corporate-owned newspapers, private-owned newspapers, and at university and college newspapers. Statistics show that diversity in newsrooms is especially low for the years proceeding 2006, and, in some cases, is declining. Similarly, while many editors endorse diversity and believe that a representative newsroom provides fair and accurate reporting, statistics show that diversity is not an important priority for newsrooms. Though many newspapers are working towards diversity goals, the minimal progress that is being made in some places is especially slow, and not enough newspapers are taking part. The percentage of diversity representation in the newsroom has an effect on credibility.