Now that life is returning a little more to normal, I’m getting a few requests to speak to small groups about the state of the newspaper industry in general and The Columbian in particular. I’m a better writer than speaker, so I decided to write down my thoughts and share them with you.
The newspaper industry has been “in transition” for at least 15 years. The transition was forced upon us by the colossus that is the internet, aided by its sidekick, the smartphone.
Of course, this is not the first time a new technology has crept into newspapers’ territory. A hundred years ago, they said radio would make newspapers obsolete. Seventy years ago, they said TV would put us in our grave. Both were speed bumps compared with the internet.
Our industry used to get about 75 percent of its revenue through advertising. But the rise of internet shopping and social media turned a $49.4 billion newspaper advertising market in 2005 into a $9.6 billion market in 2020, according to the nonprofit Pew Research Group. That’s an 80 percent decline!