Newspapers Look Online

There is no shortage of news to help newspaper executives lose sleep. From The Economist:

“For most newspaper companies in the developed world, 2005 was miserable. They still earn almost all of their profits from print, which is in decline. As people look to the internet for news and young people turn away from papers, paid-for circulations are falling year after year. Papers are also losing their share of advertising spending. Classified advertising is quickly moving online.”

The article goes on to discuss how newspapers plan on evolving:

“Even the most confident of newspaper bosses now agree that they will survive in the long term only if, like Schibsted, they can reinvent themselves on the internet and on other new-media platforms such as mobile phones and portable electronic devices.”

Overall, as would be expected, a great article that covers a lot of ground. Its snarky conclusion:

“Over the next few years it must decide whether to compromise on its notion of “fine journalism” and take a more innovative, more businesslike approach—or risk becoming a beautiful old museum piece.”

In related news, research shows that “Web-only newspaper readers account for between two and 15 percent of a newspaper brand’s total audience…”