Now that I’ve lived in Chicago for three years, I’m starting to feel more like a part of the Chicago business community. And a big piece of being a part of a community is keeping up on your local news. I rely a lot of sources, but I’ve found that Crain’s Chicago Business consistently does great reporting on the Chicago business scene. Crain’s Chicago Business is published by Crain Communications, which is “one of the largest privately owned business publishers in the U.S., with more than 27 leading business, trade and consumer publications and related websites in North America, Europe and Asia.” Crain is headquartered in Detroit, MI, but their publications are headquartered in a variety of places. Crain was founded in 1916 by GD Crain Jr., and it remains a family owned business to this day despite a few bumps in the road that would be expected for any company in the publishing industry (like layoffs a couple of years ago).
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Ten years ago, who would have thought that both major and local newspapers would be losing money, and small no-name online publishers would be raking in millions of dollars? We all know that the Internet has changed the way that information is distributed and consumed, but far fewer people are aware of the economics behind it all. Newspaper advertising was all about offering the chance to be seen. The Internet came along and now you can know how many views, clicks, and purchases your advertising dollars delivering. There’s still a ton of value in the content that traditional newspapers are producing, but many of them have failed to figure out how to make producing that content profitable in the Internet age. Seeing Interactive is an Austin, TX based company that hopes to change that. They provide web-based products to publishers that cost nothing up-front while guaranteeing customers new revenue. It sounds a little crazy, but it sounds to me like Seeing Interactive has productized what a “web monetization consultant” (if such a thing exists) would do.
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I honestly can’t tell you when the last time that I picked up a newspaper was. It’s not that I’m sequestering myself from current events, it’s just that I do most of my media consumption online because it’s so easy. Obviously, attitudes like mine are causing a lot of distress in the newspaper industry, but I think there’s still a great business in delivering quality content. One area where online media kicks traditional media’s butt is in grabbing eyeballs. Sensationalism sells, and most newspapers still haven’t grasped that. However, tabloids, especially those based in New York, have always known how to get attention. That’s why there’s a good chance that I’ll pick up a copy of the New York Daily News if it’s sitting on a table at the coffee shop that my parents like to take me to back in Connecticut (where I’m headed this morning). It may not be the most reliable source for information or the most academic, but you have to love the fact that the New York Daily News understands the psychology of its readers and uses that knowledge to convince them to read. It doesn’t matter how great the writing is if nobody reads it.
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Since I moved to Chicago a year and a half ago, I don’t think I’ve picked up a newspaper more than a handful of times. However, when I lived in Connecticut I was often reading both the daily regional local newspaper and the bi-weekly super local newspaper for my town. It was always fun to see which of the kids from my elementary school class got arrested in a given week (don’t act like you don’t read the Police Reports first). I often forget how many local newspapers are out there and how many jobs they provide. It may be an industry in flux (or on its way out depending on how you look at it), but it’s still a great place to start your career. This morning I noticed that Twitter was abuzz with word of a paid internship with the Everett Daily Herald (that’s Everett, WA), so I figured I’d take a look and see if there were any jobs open too.
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One of the cool things about doing what I do is that I get a lot of interview requests from media outlets. At least once a week I’m talking to someone who is writing about entry level employment or internships. What’s even cooler is when someone writes about me, and doesn’t even interview me. I’ll suddenly see a Google Alert pop up for my name or brand name, and I’ll click the link to see who’s talking about me. One of the most exciting mentions came from the journal Science and their Science Careers Blog. In case you didn’t know, Science, the Science Careers Blog, and many other publications and newsletters are published by The American Association for the Advancement of Science. The AAAS is a Washington, DC based “non-profit organization dedicated to advancing science around the world by serving as an educator, leader, spokesperson and professional association.” They work in areas likescience policy, international programs, and science education, and
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We often put journalism on a pedestal. We trust our for-profit news outlets to cover everything important, but how do we know that they’re doing a good job? In an age where making money from news is getting harder and harder, it’s obvious that many media outlets have resorted to covering what drives eyeballs instead of what’s important. This isn’t really a new development, but it seems to be getting worse. Investigative journalism is dying a slow, painful death, and sensationalist, opinion-based journalism is taking over. Clearly that’s where the money is, so if we want to hear about stories with “moral force,” we’re going to have to look somewhere else. ProPublica is “an independent, non-profit newsroom that produces investigative journalism in the public interest” based in Manhattan. They realize that investigative reporting has become a luxury that many newspapers can’t afford, so they’ve taken it upon themselves to save the art. They haven’t been around 2 years yet, and they already have ” a newsroom of 32 working journalists, all of them dedicated to investigative reporting on stories with significant potential for major impact.”
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Being a newspaper these days is tough. I’d imagine it’s especially tough in a place like San Francisco where people embrace new technologies so quickly. Although I’d also expect those early adopters to be just the types who are heavy users of newspapers. I’m not sure where that leaves the San Francisco Chronicle, but they do seem to have a strong history of adapting to changes in their business model. According to Wikipedia, they first went online with SFGate.com in 1994, and now they’re moving towards a focus on subscriptions instead of advertising to generate revenue. I’m not sure that’s going to work long term, but you have to like the flexibility that the San Francisco Chronicle has shown over the years. It’s no surprise that they remain one of the largest newspapers in the country.
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It feels pretty good to be talking about a Boston based newspaper today knowing that they have to report on another trip to the World Series for the Yankees; although, I’m sure they’d much rather be publishing stories on what Dustin Pedroia and Jonathan Papelbon are doing during their offseason (possibly watching the World Series from their couches). Now that I’ve gotten in my dig at Red Sox fans, we can take a look at The Boston Globe, Boston’s most widely read newspaper. The paper is owned by the New York Times and has an excellent web presence at Boston.com. Much like other newspapers the Globe has had significant financial struggles, and The New York Times even threatened to shut the paper down if the paper’s union didn’t accept major concessions. Apparently those problems have been worked out, and The Boston Globe is now on more stable ground. At least that’s what the fact that they’re hiring would indicate.
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We all know that news is changing, and jobs in journalism aren’t what they used to be. We’re in the middle of a major transitional stage that is going to determine how news is delivered for years to come. Blogs are becoming more and more reputable, and one of the companies that best exemplifies that trend is The Huffington Post. They’re a New York City based news website and blog network with an admittedly liberal slant (traditional newspapers would never position themselves in that way—even if they have the same biases). The site was launched in 2005, and since then it has grown to a $100 million valuation. While newspapers are dropping like flies, new fortunes are being made by blogging moguls. This is an exciting time to be involved in media, and it presents a ton of really exciting opportunities for new grads to grab a place in journalism’s future.
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