A great article in this month’s Management Today has made me reflect on how the changing media landscape and the demise of high quality journalism is a really sad thought. A lot of students I speak to simply do not buy a newspaper and take all their news from Twitter and Facebook. They do not see the distinction between professional journalism and opinion led content on social media. Whilst readers should expect to pay to consume high quality journalism, they don’t and the proliferation of free media means paywalls make it an even harder choice for people to put their hand in their pockets.
Media titles seem to be playing catch-up – the internet has been around for a long time, but it seems like owners have only just realised that they need to invest in their digital platforms to lead the market. They also need to continue to invest in their editorial team, most media titles have cut back their staff pool reducing the number of journalists which reduces their capacity to spend the time needed to maintain high journalism standards and also deliver content over multiple platforms.
Like most markets, there will be a natural evolution of the media industry with weaker players not surviving, but lets hope media owners who invest in tech and people will ensure the media sector can stay strong and relevant for its audience.