Thursday, January 16, 2020

New York Times Validates Prediction about Local News

A headline in the New York Times validated one of our predictions for 2020 about the further decline of local news. The headline, "The Decimation of Local News Has Lawmakers Crossing the Aisle," while our prediction used the "decimation" in the explanation of why the continued loss of local news is significant.

In fact, the article cites the fear and mistrust in Big Tech that is our top trend for 2020. Here's a key paragraph from the New York Times article:
Anger toward big technology companies has led to multiple antitrust investigations, calls for a new federal data privacy law and criticism of the companies’ political ad policies. Perhaps no issue about the tech companies, though, has united lawmakers in the Capitol like the decimation of local news.
Lawmakers from both parties blame companies like Facebook and Google, which dominate the online ad industry.
 Interestingly, Congress may have a solution:

The proposal would give news organizations an exemption from antitrust laws, allowing them to band together to negotiate with Google and Facebook over how their articles and photos are used online, and what payments the newspapers get from the tech companies. (The bill is backed by the News Media Alliance, a trade group that represents news organizations including The New York Times Company.)
Check out the article for more details. 

We know some people blame the media for not finding a sustainable business model but we don't think it's a failure to adapt. It's just much harder to compete when you have to pay for reporters and editors when your competitors are picking up or linking to your articles, and are not paying or not paying enough to support real journalism.

We hope the proposal is successful.

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