There are some interesting developments afoot that may add more nails to the coffin of newspapers as we knew them. To back up a bit, the previous nails include the fact that over the past decades, newspaper readership has been diminishing, perhaps because more Americans get their news from television. As an example, the circulation of English-language papers in the United States has dropped by 11% since 1990, and that's while the population has increased. (Foreign-language newspapers in America, though, are faring much better.)
So what are these new developments? Instant reader feedback is one. When newspapers and other publications have an online presence, they're able to monitor how many people click into each article. Traditionally, a newspaper might see that it's gaining or losing readers, but it would be hard to pinpoint exactly what material in the paper readers like or dislike. Surveys help, but they have their limits and disadvantages (think of exit polls, for example!). So enter clicks -- as in clicks generated (and recorded) when readers click onto various Web pages.
A telling example of click monitoring in action is Chile's main newspaper, Las Ultimas Noticias (LUN). USA Today reported that, "What news, then, did readers choose in a week when a dozen world leaders gathered in Santiago for an important trade meeting? Among the top stories: Where Secretary of State Colin Powell went to dinner and what he ate (shrimp with couscous). Also, a rundown -- with a photo of scantily clad waitresses -- of which delegations gave the best tips (Japan)." Feedback like this will encourage the paper to run more light fare, essentially dumbing-down its content.
Another possible contributor to the dumbing-down of newspapers is the growing proliferation of blogs -- personal journals or collections of thoughts and photos posted on the Internet. (Blogs get their name from the term "Web logs.") Sure, you may already be familiar with them and may read some -- there are apparently more than 5 million of them out there, after all. But have you stopped to think of the effect they may have on newspapers? Many blogs are silly, but many others are written by serious, thoughtful people, who offer a lot of information and food for thought. Economist Tyler Cowen at the MarginalRevolution.com blog predicts that "mainstream newspapers will become less intellectual in their coverage, while (and because) niche options expand dramatically." (Learn more or ask questions on our Blogging discussion board.)
These developments are not only interesting -- they also matter to some investors. If you have money in companies such as The Washington Post
Permit me, finally, to wonder whether even The Motley Fool itself might put pressure on newspapers by offering free financial news and analysis online and a host of newsletters that offer promising stocks and mutual funds.
More Foolish fare on newspapers:
And finally, if the thought of dumbed-down newspapers depresses you, remember these words of radio personality Garrison Keillor: "A good newspaper is never good enough, but a bad newspaper is a joy forever."
Longtime Fool contributor Selena Maranjian owns shares of The Washington Post and reads The Providence Journal.
