Recently I have been looking at the newspaper as a service and as a business (for reasons that will become apparent later). Something is becoming clear. While the Internet makes information plentiful, and this in turn may be a challenge to some aspects of the newspaper business, deep insight and trust remain as scarce as they have ever been. Indeed, the value of deep insight and trustworthy information may have increased in the digital era.
This post, by the way, also appears in the Huffington Post today.
“Commodity news” made up of superficial coverage and parsed press releases is plentiful online. But deep insight remains sufficiently rare that some publications can charge for it. Thus, The Financial Times and The Economist remain essential reading despite the availability of zero cost alternatives. This deep and explanatory journalism can only be built by an expensive newsroom staffed by veteran reporters who have built expertise and relationships with sources over many years. The newspaper that is viable in the digital age must maintain a level of expertise in its newsroom that can not be accessed elsewhere. [read more]