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I just read in the news, that the first big news paper in the US closed down: The Rocky Mountain News, also called as the "our Rocky". 230 people lost their jobs. This year would have been the 150th birthday of the newspaper. In this occasions the coworkers made a small video (18 minutes + credits) about how it inflected their lives, their dreams. It is a well made movie, very sad with a small insight in how the news work.
http://vimeo.com/moogaloop.swf?clip_id=3390739&server=vimeo.com&show_title=1&show_byline=1&show_portrait=0&color=ffffff&fullscreen=1
My opinion is based on my own deductions from Alvin Tofflers books: The Third Wave
The part of the video that struck me, as I'm interested in the topic, is where they were talking about the fact, that the crisis in the news industry was new (less than 10 years old), and they couldn't find a successful business model to tackle the problem.
While the rise of the internet as the main media and news provider/advertisement tool is really a problem that appeared just around a decade ago, the problems first hints about the struggle of the paper news providers was foretold already in the 70's.
Toffler wrote, that already in the 70's individualization was an important change in the mindset of the people. This change led to a variety of new products we are enjoying now. Individualism and localization led also to the expansion of small local newspapers/weekly/monthly papers of an area, about a hobby. These small papers made it possible that the huge newspapers lost readers and needed to localize some parts of their papers to the regions they were sold to.
I think this could have been the first warning to the media industry in general, and that they should have been more aware of possible changes. From that time on, individual projects kept appearing to appeal on the specific needs of customers, which were better to advertise for a selected group of people rather than to the major public.
The first networks like the internet were created at that time. Sci-fi like Star Trek was already produced in that era. The change in access to information could have been felt. Here the question is, what strategies where implemented to stay above the water, and what new ideas where they using to stay profitable.
And for me it is even more surprising, when journalist talk about this unsuspected change... It is their work description.
Though it is always easier to have a big mounth afterwards, and it is also true, that noone likes to see, how something they based their lives on slowly fades away...
it's late, I hope I wrote down some stuff, that made sense...