You know you’ve got a problem when your glory days are 40 years in the past. The purchase of the Washington Post by Jeff Bezos has sponsored a legion of articles referencing Woodward and Bernstein, but nothing much since. There’s a reason for that: there hasn’t been much since. Washington Post has been in the doldrums for nearly half a century. It was inevitable that something had to give. Yesterday it did.
In public statements Bezos says that he doesn’t have a master plan for changing the paper, but that is pretty difficult to believe. Last year in an interview he predicted that newspapers would never appear in print 20 years from now. I find that hard to believe as well. I think the future of print newspapers looks a lot like the present does in Japan today: the product that appears in print is for the elites and they pay top dollar for it. Don’t be surprised if newspapers start to sell for $10 or $15 a copy in 10 or 15 years. There won’t be much advertising. Individual subscribers will pay.
If I were the new owner of any newspaper, I would accept a simple truism that media barons from Tina Brown to Michael Bloomberg to Katherine Graham never seemed to: the Internet is for breaking news. Print is for analysis. Analysis comes in long form. Give me 10,000 words about what yesterday’s news means and why I should care, and please put it in print because it’s easier on the eyes than it is on the tablet.
When publishers start to understand that, and the fact that bland doesn’t sell and that edgy does, that mainstreaming is boring and alternative is mainstream, they will start to turn a profit.