From today’s Wall Street Journal, Warren Buffet owner of the Buffalo News and an investor in the Washington Post shared his outlook for the newspaper industry:
“For most newspapers in the United States, we would not buy them at any price They have the possibility of going to just unending losses.”
According to Buffet, as long as newspapers were essential to readers, they were essential to advertisers.
Indeed without a targeted audience, what media can hope to attract advertisers let alone monetize and profit from their content?
The newspaper industry has three strikes against it – a print cost structure, a shrinking audience and a contracting, transitory advertiser base.
Unfortunately, the future of newspapers no longer appears essential to either readers or advertisers.
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