The definition of the life cycle is discussed nearly in every subject. I would like to talk about it as it influences every product or service, market and industry. The main idea is that everything has it limit of time and as it declines problems start. If the company or industry is able to solve them they will start new cycle of modified product or industry and if not,company will stopexisting. Digital era has raised problems for many industries and all of them are in a hurry to find the ways out. The same occurs to different media organizations, digital revolution has changes the priorities of the advertising channels. Companies are shrinking their advertising budgets for radio, newspapers and magazines (according to Econsultancy ) however TV is still popular. All the money goes to the Internet and Mobile advertising.
People start using the Internet to find information and spend there most of their leisure time. However the situation in different countries has different levels of difficulties. For instance, London doesn’t have mobile connection in the tube and free newspapers you get at the entrance are a real salvation. On the other hand Moscow tube users don’t have these problems and can freely use their mobile devices to search for information they need. Nevertheless the difficulties exist and if media want to survive they need to change something.
Nowadays it is so much more easies to copy any article. Publishing companies understood that can cause a lot of problems and started to search for solution in the 90s (according to Clay Shirky ). To make it more clear here is the list of nightmares of newspaper companies:
1. Physical existence of newspaper is not important anymore and will become less after launch of different tablets.
2. The content is easy shared through different digital channels and noone wants to pay for it.
So the search for new forms of presenting old forms of media started and continues till now. From my point of viewthe main drawback lies in misunderstanding of improvements’ searching area. They mention just about creating the new ways of presenting the content they have been doing before. Probably content should be created differently.
Clay Shirky mentions that when people were buying the newspapers before they never read it from beginning till the end. Now they don’t need to do that. They can choose what to read. So now there is no news monopoly owned by any newspaper, there is compatible market so to survive newspapers should start to search for quality material. They can work as the platform that will bring quality material together and also will help journalists to earn money. Right now there are bloggers and journalist that have large Internet audiences and earning money by letting companies to advertise on their pages. Newspaper can become some kind of resource that will bring them together and put them in different categories. In this case newspaper will be able to get better advertising contract for writers. At the same time people that don’t want to be distracted by banners or would like to get additional services as printed version or newsletter can pay for it. I think the best example of good publishing business is showed by Econsutancy (even though I understand the web site is not just about it) but I think it is the best Newspaper about Digital content.
If newspapers companies solve the problems digital revolution will stop being scary for them and will start to help instead. Twitter and iPad will bring more people to the web site and help them to generate bigger traffic and money.
So, «Nothing will work, but everything might» (according to Clay Shirky ).