Newspaper circulation drop accelerates

It’s the largest drop recorded so far during the past decade’s steady decline in paid readership — a span that has coincided with an explosion of online news sources that don’t charge readers for access. Many newspapers also have been reducing delivery to far-flung locales and increasing prices to get more money out of their remaining sales. Source: Newspaper circulation drop accelerates April-Sept – Yahoo! News.

Newspapers are trying to recover from a steep drop in advertising revenue — traditionally their main source of money. The worst U.S. recession since World War II and the lure of the Internet have combined to make the industry’s annual ad revenue $20 billion less than it was three years ago.

This is another example of the growth of social media and the fall of traditional media. As more (young) people turn to the Internet for news and information, they are more involved, more engaged in the news; users are making the news. This is a sign of times to come – newspapers and news media are an endangered species – the Internet is the new news source and social media is the new printing press. Power to the people.

Ironically, I grabbed this article from an online news source (AP News & Yahoo News). What happens if these sources dry up? Why should they continue to pay people to report news when social media sources do it for free? Stay tuned. Those questions haven’t been answered yet.