A timely and extensive news/newspaper reality check; see the full article
Yet amid all this gloom, statistics from the Internet suggest that interest in news has rarely been greater. According to one survey, Internet users in 2008 spent fifty-three minutes a week reading newspapers online, up from forty-one minutes in 2007. And the traffic at the top fifty news Web sites increased by 27 percent. While this growth cut across all age groups, the Pew Project for Excellence in Journalism found, "it was fueled in particular by young people." The MTV generation, known for its indifference to news, has given way to the Obama generation, which craves it, and for an industry long reconciled to the idea of its customers dying off, the reengagement of America's young offers a rare ray of hope.
When it comes to mismanagement, then, the newspaper business seems in a class with Detroit. Unlike GM, though, newspapers offer a product that consumers still value. But how to cash in on it? As the old business models fade, new ones are urgently being tested. Surveying the blackened landscape, I searched for new buds—and stumbled upon something much larger.