Thursday, September 16, 2010

Journalism and Money

None of use choose to work in journalism for the money.  Quite frankly, there is hardly enough to go around as is.  I came across three different articles that discuss what to do with what resources we have as well as who to reach to for a helping hand.  Gathering financial help, however, is almost always going to lead you into trouble.  This is the argument of the first article.

"Journalism Needs Government Help"

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     The journalism industry is facing its most dire financial issues than it has ever in the past.  With advertisement revenue declining rapidly, profits take the same hit.  Add to this the fact that very few US citizens actually pay for the news they read.  For this reason, the article proposes the use of government funding to help stem the crisis.  The article proposes, however, that the use of such funding would ultimately lead to bias and unfair reporting when covering state issues.  
     As the article states, “American journalism is not just the product of the free market, but of a hybrid system of private enterprise and public support,” which is a volatile market in which to be based.  In general, this article states the importance of finding a stable financial market in which to operate.  This underscores the importance of finding a solid financial plan, one that is both necessary and proactive for the Journalism industry.

"Newspapers finish 14th-straight revenue-losing quarter"

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     The article begins explaining the increase in profits against a loss of revenue for the Journalism industry.  It poses the question, with no further growth visible in the future, what are journalists to do in order to fix the balance sheet?  Since the last few quarters have shown “double-digit” decline in advertising revenue, most are calling for a “moderate improvement in decline.”  This is most likely due to the companies’ financial statements, and how they prove what a company can accomplish based on modern trends.  
     It shows that while modern newspaper revenue is down, online news revenue is increasing.  So, if journalism wants to keep up with modern financial trends, they may have to retool their general practices and move into the modern, online profit-making industry.

"Losing the News Examines Journalism's Shifting Future"

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As the article starts, the first statement says, “It’s no secret the news business is in great turmoil.”  It supports this by discussing the decline in advertising revenue (a common complaint among all articles) as well as mass layoffs and an “uncertain future.”  The basis of the dialogue from a PBS Newshour segment explains how it was merely a situational effect; that there was no financial mishap at all.  The industry simply must bounce from technological change as well as a massive difference in how the industry can and should be run.  And this can happen through, as the article calls it, “pin-pointing an economic model.”  This model will take shape when the economy begins to build back its previous condition.  Once it does, the media has an open door to start charging for online content, increasing newspaper distribution, and increasing what is that that makes journalism “good” for the public. 

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