Saturday, March 21, 2009

It’s a new day for newspapers

Rufus Woods writes:

For decades, newspapers have enjoyed a near monopoly in the marketplace and that made us fat, happy and complacent. It seemed we could do the same things the same way forever. The brutal reality of the marketplace is visiting itself on an industry that is now having a dickens of a time learning to be innovative and agile. Goodbye, complacency and a sense of entitlement. Hello, uncertainty and a hyper-competitive marketplace.

Virtually every other industry has gone through this kind of turmoil and the companies that ultimately survived and thrived were the ones that held fast to their values but found new ways to operate. Inevitably, that means throwing out lots of traditions and practices that don't make sense anymore.

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