Economic Future of Journalism.

The looming question about whether or not the economic future of journalism will look good or bad has been discussed for many years. After reading the various articles I have come to the conclusion that it depends what type of journalism it is. In the first article I learned that

even as mobile and social news habits evolve, legacy platforms such as TV, digital news journalism, and network or online news have by no means been abandoned, though some are faring better than others. Local TV continues to capture broadcast viewers, with slight increases for evening (3%) and morning (2%) newscasts and larger ones for early morning and midday in 2014. At the network level, ABC and CBS revenue grew while that of NBC declined. At the local and state level, digital nonprofit journalism continues to develop and, according to Pew Research Center’s study on local news ecosystems, can help provide a kind of second tier of news. Yet the staffing capacity and financial maturity across these outlets varies dramatically.

Overall, digital news entrants and experimentation, whether from longtime providers or new, are on the one hand now so numerous and varied that they are difficult to keep track of. On the other hand, the pace of technological evolution and the multiplicity of choices – from platforms to devices to pathways – show no sign of slowing down. With each new pathway or platform, the old ones continue to be used, posing a nearly unattainable challenge to an industry in financial difficulty. And if news in the social space is more incidental and driven to a large degree by friends and algorithms, then gaining a foothold there may be even more elusive – or at least less in the industry’s own hands – than a secure financial model. Online is what matters, and it’s increasingly difficult for these institutions to compete and be heard over the chatter of the internet.


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