Newspaper Industry Doldrums
Posted: May 25, 2007
I have recently been asked by a number of business associates and friends how The Bottom Line has fared because of the recent onslaught of stories about the decline of profitable companies in the newspaper industry. Frankly, I do not consider myself a newspaper. However, there is no doubt that the success of this subscription-driven publication is directly related to the ability for the print news sector to thrive.
While the number of daily newspaper subscribers continues to decrease, many within the print media industry have discussed ways to remain a viable medium as more information is available at no cost on the Internet. I have always maintained that the web site for The Bottom Line (www.tblnet.com) should be a vehicle to drive revenue through new paid subscriptions. I purposely put only a fraction of this weekly newsletter on the web site so I do not make it too easy for potential customers to keep up on what is happening within the business community without paying for the information.
Many newspaper executives believe that they can still be profitable by publishing their entire product online. Instead of teasing potential subscribers by only providing a portion of the daily newspaper, most major print media decision-makers believe they can make up the revenue shortfall by selling more advertising on their web sites.
Unfortunately, I do not have that luxury. Since my total readership pales in comparison to the number of people who read a daily newspaper, I would have to charge considerably more for advertising both within the newsletter and on my web site to make up for the lost subscription revenue.
The new web site for The Bottom Line (www.tblnet.com) was launched within the last two weeks. There is no doubt that the site will continue to be tweaked and updated over the course of the next month. I welcome any input about the new site and encourage those interested in becoming more involved to contact me. A web site for a publication like this is most functional if it becomes an avenue for networking and sharing ideas.