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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: 2) by sonamchauhan on Wednesday August 12 2020, @08:48AM (1 child)
It depends on who's doing the tailoring and for what purposes. If Google or Amazon are tailoring ads for me, that's different from paying money to nytimes.com to get me hard copy information. I don't trust internet advertising giants with that - but the hard copy papers have a really good ethos about reporting content distinct and independent from editorial and advertorials.
Decades ago, I remember devouring three different newspapers a day every day. Even now there's nothing that beats paper. But I have to push myself to buy the occasional paper for old times sake. Yes, I get free news but I have to go find it. And, really, most of it's junk.
Say the 'real' paper provided an open source browser plugin -- some way I can let it know what I am really interested in. Then, the paper can syndicate content for me (say, as part of a buying group in combination with other papers) and print it specifically for me. It can use AI based summarization, use linkages to the online world using AR markers, and so on.
(Score: 0) by Anonymous Coward on Wednesday August 12 2020, @11:29AM
So you want to implement Fahrenheit 451? Summaries of summaries, "simplifying" things to black or white without shades of grey, banning nuances is exactly what the book is about.
Personalized news leads directly to hell without a way back. If you haven't been awake in last decade or so, maybe you would have noticed this as people isolate themselves in their personal thought bubbles and demonize everyone outside it.