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New York Times CEO Mark Thompson says he expects the end of the physical newspaper in 20 years:
The New York Times was founded in 1851, but it would surprise outgoing CEO Mark Thompson if the physical paper made it to 2040.
"I believe the Times will definitely be printed for another 10 years and quite possibly another 15 years — maybe even slightly more than that," Thompson told CNBC's A View from the Top. "I would be very surprised if it's printed in 20 years' time."
More than 900,000 people subscribe to the print version of the newspaper, said Thompson. At its current subscriber levels, the paper could be printed seven days a week at a profit without a single advertisement, he said.
But as readers become more accustomed to reading the Times on smartphones, tablets and computers each year, a printed paper is clearly a dying form. The New York Times Company reported last quarter that total digital revenue exceeded print revenue for the first time ever. Print advertising fell more than 50% year over year from last quarter, driven by both secular declines and the pandemic. Thompson told CNBC he doubts that advertising will ever come back.
"I'm skeptical about whether it will recover to where it was during 2019 levels," Thompson said. "It was already in year-over-year decline for many years. I think that decline is probably inexorable."
(Score: 5, Insightful) by SomeGuy on Tuesday August 11 2020, @10:35PM (2 children)
And what we will be left with is.... cell phones or similar proprietary locked down DRMed devices. Too many are already giving the web the finger. Of course they will have eye and ear raping advertisements that can't be removed or avoided. Content will change from minute to minute so you will never know if you are mis-remembering something or not. Information that disappears when a service is no longer supported.
None of those problems with physical paper.
(Score: 3, Touché) by Rupert Pupnick on Tuesday August 11 2020, @10:39PM
Similar to the distinction between electronic voting machines and paper ballots...
(Score: 2, Offtopic) by Runaway1956 on Tuesday August 11 2020, @10:39PM
Worry more about people disappearing, because they are deemed "politically incorrect". The headlines in Hong Kong are applicable.
https://apnews.com/2ce4e0aac2bbb360f06e481dffaf5149 [apnews.com]
Better read the story quick, before it disappears!