There was a time when we all said, newspapers were dead.
Online news was where it was at.
Free online news.
I didn't disagree and neither did most of us at the time. Wrong again.
Recent research (ABC) data seems to show that newspaper readership is in decline and whilst that may be true, it takes no account of the growth of their online assets, which are not.
What you're seeing is a switch of readers from one format to the other. And if I was investing, I'd invest in newspaper publishing - no doubt about it - because they are the new TV.
As Rupert Murdoch said recently, "news is the most valuable commodity in the world" and the recent, very excellent launch of Huffington Post Live, confirms that but the definition of "news" is changing.
I blogged here about that launch http://streamabout.blogspot.ie/2012/08/huffington-post-live-launches.html
Look at youtube. What people want to watch are short (the average youtube length is 2 minutes 1 second) video clips giving more entertaining news. No more press conferences but rather, interesting interviews and insights into opinions about the news - exactly what the huffington post is all about.
The problem was of course, that printed versions of newspapers can't show video. But their online editions can - and boy, are they moving fast. Plus they can not only show you video but give you the full news story. Extensive, informed news with live action.
Firstly, they can have video posted by the hour, whereas TV broadcasters hold their news until their traditional ad breaks (such as the 6 o'clock or 9pm bulletins).
So now newspapers can time beat TV broadcasters to delivering news/sport/entertainment/weather.
Secondly it's what consumers want. When something happens, they want to see it now, not later and certainly not when it suits a TV broadcaster to show it. If something happens, out with the mobile phone and you view it there and then.
Thirdly, it lets newspapers enter the TV advertising market using the variety of pre, mid and end rolls (ads before/during/after the video) at a premium price and thereby attract in those TV advertiser brands that they never had before.
That means more revenue.
So it's the real magic combination whiich newspapers are perfectly placed to capitalise on. And they are.
Look at www.independent.ie for example (the website of The Irish Independent, Ireland's largest daily www.independent.ie) and you'll see lots of video. Even daily weather video in a newspaper - who'd ever have thought it!
Which will bring lots of readers and consequently, lots of Ads. Irishtimes.com, The Daily Mail and Examiner.ie are well into the race too and all are to be congratulated. Meanwhile, TV Broadcasters are stuck showing old series through their iplayers. Successful, for now.
Because Newspapers have taken something which in the internet age, was a major threat and turned it into a new opportunity. As so few others did - such as Video rental businesses and music/book sellers.
Newspapers are the new broadcasters.
It's TV that needs to look out.
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