Friday, October 3, 2008

follow the money...

Business Week's Jon Fine ponders where advertising dollars will end up as more and more local dailies meet their untimely demise. He suggests the first beneficiaries might be local TV and possibly glossy monthlies in affluent cities -- not always bastions of good journalism -- but concludes that as traditional news outlets decline, journalistic energies will migrate to a cyber-ecosystem.

His question: will the ad money follow? My question: if it doesn't, how will we support good journalism?

(There are blogs that make money, according to Slate's Mike Agger, but i don't know if you'd consider many of these good journalism...)

Anyway, back to Fine's piece. He writes:

"The obvious venues for all this displaced journalistic energy are a gazillion new independent online endeavors, be they individual blogs or bigger efforts like They will make for fascinating media ecosystems within individual cities, and some will become hits. It is much less certain whether ad dollars will follow. Ultracheap classifieds site craigslist has simply "destroyed revenue," says Dave Morgan, a former newspaper executive who founded behavioral targeting firm Tacoda, and revenue that no longer exists won't shift to new ventures. Others point out that key newspaper advertisers—local auto dealers and realtors, say—already have many outlets for ads online, not least of which are their own Web sites or national sites such as that serve up targeted ads."

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