The Hindu Business Line : Print media at crossroads

There is as yet no end to the ding-dong debate, mostly in the West, on the future of the print media, especially the possibility of its survival in a digital world. It has thrown up opposing views expressed with Cassandras on the one side ranged against Micawbers on the other. In the former’s view, there is no way to go but downhill for the print media, and the question is not whether it will become extinct, but when. They point to the death throes, and even disappe arance, of newspapers and magazines that had dominated the media landscape for many years, which were unable to cope with the falling readership, drying up of revenue streams, mounting competition from e-newsletters, alert services and content downloads, and the instant access to news as it broke online or over television channels. The Cassandras are convinced that print media can never match the visual appeal of audio and video features built into the digital dissemination of stories over the ether.

Bleak scenario

It is the crisis in the bread-and-butter part of the print media publications that is taking a heavy toll, as per the Web site of strategy+business. It says: “Although overall advertising revenues fell by mid-single digits in 2008, newspapers, consumer magazines, and business-to-business trade publications saw print advertising declines of two to three times that. Performance has worsened so far in 2009.”

In particular, the business dailies and periodicals of the print media in the West seem to be taking a beating. The scenario, as portrayed by the strategy+business, is bleak. Here are a few extracts: “The business media, which expanded greatly during the Internet bubble, is now mired in deep economic crisis… business magazines….are much thinner after the collapse of advertising in 2009. Newspapers around the country, even in major metropolitan areas, are suspending publication of stand-alone business sections and downgrading their coverage… Older, more experienced journalists are being pushed out to cut costs and are being replaced by younger, less experienced reporters…”

Judo strategy

In the bargain, the quality of journalism has undeniably suffered with signs of deterioration to be seen all around. There is no researching on the implications, ramifications and repercussions of news and, consequently, readers have to go without the background to, and consequences of, an issue or happening, and analysis is becoming more and more superficial. There is always scope for print media to overcome adversity by adopting some kind of a ‘Judo strategy’ whereby one converts one’s weaknesses into strengths and the opponent’s strengths into weaknesses. This would call for out-of-the-box thinking on a host of issues that are capable of raising the quality of content, and even beating digital journalism in its own game.

Investigative reporting is another area that can pay ample dividends in terms of expanding readership and attracting advertisers; there is only scanty evidence of print media making a serious effort to expose misdeeds by those who are accountable to the people. There should be vigorous and sustained follow-up to the logical end of anything of public interest that is published. Spectacular improvements are possible in display and presentation that can make up for the digital glitter.

In sum: Where there is a will, there is a way.

B. S. RAGHAVAN

Related Stories:
Newspapers struggle to find a new business model
‘Indian print media needs to prepare for storm of digital migration’
E-media versus p-media

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