In contrast, the Economist magazine asserted newspapers "had escaped the cataclysm" and was upbeat about their future:
Newspapers are becoming more distinctive and customer-focused. Rather than trying to bring the world to as many readers as possible, they are carving out niches. . . But the recession brought out an impressive and unexpected ability to adapt. If newspapers can keep that up in better times, they may be able to contemplate more than mere survival.Who's right?
Ask Alan Mutter at Reflections of a Newsosaur:
As illustrated in the chart [below], newspaper and magazine sales in the first quarter dropped respectively 9.7% and 3.9% at the same time television expenditures advanced 10.5%, Internet rose 7.5% and radio gained 6.0%.So NOfP is right. Especially if you're reading this on an iPhone.
The ongoing contraction in newspaper advertising -- coming on top of a 40% sales skid in the two years ended on Dec. 31, 2009 -- adds further support to the thesis that the industry is suffering from major structural changes in the media market that will not reverse fully in even the best of economic circumstances.
source: Alan Mutter
(via Business Insider)