Publishers face very real problems with their business model
Wednesday, November 4th, 2009I wrote yesterday about book publishing and predicted that the book was not dead and would continue with its admittedly minority but niche audience.
Newspaper publishing is less clear. Over crowded tubes and the increasing switch of commuters to pedal power has made a noticeable difference on the number of Times and Telegraphs left behind on the 7:43 to Liverpool Street in the mornings. Murdoch correctly predicted that news would be delivered digitally. What he failed to predict was the way that the value of news was commoditised and made freely available. On the one hand, the BBC has its mighty news service which breaks stories of interest throughout the day and on the other hand citizen journalism is providing some excellent news coverage that is trusted by more and more people. Then there is Google that aggregates it all together and makes it available at the type of a search string.
As a child I remember watching the movies of the thirties which many would say was the golden era of newspaper publishing. Reporters took on heroic levels of importance with a dogged determination to find the story and rush it to the editor’s office for inclusion in the morning episode. Even Superman was a journalist at the daily Planet and everyone knows that Spiderman took the pictures that mattered for the Daily Bugle.
Today however both Superman and Spiderman would have problems. Whilst they were holding the train one handed to stop it plunging into the river, everyone down below would be pointing their camera phones whilst a blogger sat in Starbucks and published the story as it happened. Superman could fly faster than a speeding bullet but could he conceivably fly faster than a wireless connection with broadband? I suspect not. Krypton’s last son would get scooped every time.
Please excuse me for vanishing into my childhood for a second but I think the analogy highlights the problem perfectly. Daily newspapers were all about the scoop and the strength of commentary. Even with super powers it is difficult for the news agencies these days to replace the person on the ground equipped with modern communication methods, so what hope does a mere mortal with a press pass have? Similarly an army of young boys in short trousers can never build a distribution network as efficiently as Google with its ability to help people “read all about it”
One of my favourite movies when I was growing up was All the Presidents Men, which is probably also journalism and newspaper publishing’s finest hour. The complex story showed two dedicated professionals use every ounce of their experience and professionalism (as well as a few little strokes) to get the story that ultimately removed a president from office. Never before, never since was the ethic of journalism so well highlighted.
I found myself wondering how it would go down if Bob Woodward and Carl Bernstein found the story today. Would they have waited to publish in the Washington Post or would they have released it piece by piece in an anonymous blog to gather information in the form of other anonymous comments which would then be tweeted and linked across the world. One can imagine deepthroat.wordpress.com becoming one of the most read blogs in the world if it did play out like that and all the Presidents men wouldn’t have been able to stop it. The recent story of Trafigura which was first reported in WikiLeaks shows that the Internet is understood by everyone at the top of a story as a way to circumvent even legal attempts to stop the story being told. No need for Superman in that little episode. All you need is the power of the Internet.
Newspapers are hurting there is no doubt about it. Times and Sunday Times bulk bundles ceased to be given out to airlines and hotel chains this week and joins the same move by the guardian and Observer a few weeks ago. So what can publishers do to stop them taking their place amongst the ranks of the Dodo?
