Profits for the New York Times in the 3rd quarter of this year dropped almost 40%. Nothing new, really. Actually, many print papers are lagging behind like Michael Moore in the Boston Marathon.
This drop in “old media” revenueÃ‚Â is occuring as ad dollars are shifted away from traditional venues and put into the “new media.”
What’s the net effect of the “old media” watching the “new media” run away with their bag of gold?
The Old Media competes against this relatively new arena for news and ideas by attempting to discredit it instead of compete with it, just as the elite did when Johann Gutenberg mass produced his first pages on that weird thing called a printing press.
Since we’re often confused by that which we don’t understand, I suspect that much of this bashing of “new media” by the “old media” is due to there still being plenty of geriatric idiot son typeÃ‚Â third-generationÃ‚Â newspaper publishers out there who can only stare at a computer in confused amazement Ã¢â‚¬â€œ their heads cocked to the side like golden retrievers listening to a Steven Hawking lecture.