Interesting and long-ish article in the NYT today about the steps Time, Inc is taking to try and remain profitable. In a snapshot, you can see the growing business pressure on the corporation to cut costs. As the article notes:
Time Inc.’s challenges mirror those of the publishing business broadly: its strong brands generate plenty of cash and profit, but have not been growing, a profile that is highly unpopular on Wall Street these days. But, while its biggest competitors, Conde Nast Publications and the Hearst Corporation, are privately held, Time Inc. is part of a publicly traded conglomerate with big holdings in television, film, cable and the Internet and is on a mission to prove itself to restless investors.
I have an opinion about the focus on growth over profits, but that's another issue. :) Instead, let's focus on Time as an icon of the "old" media struggling to remain relevant, and not doing all that well, if the "you" are the person of the year is any indicator. Also note that in this vast wasteland, Conde Nast is investing. Smart move on their part and one that gives me hope.
In another NYT column, David Carr opines about the impact of blogs on journalism, another topic near to my heart. He scores points for his description of a blog:
For those of you who don’t have a blog yet, think of one as a large yellow Labrador: friendly, fun, not all that bright, but constantly demanding your attention.
So it's a pretty funny piece -- but there are some sledgehammer ideas to contemplate. For example, near the end of the piece:
But at some point, ratings (which print journalists, unlike their television counterparts, have never had to contend with) will start to impinge on news judgment. “You can bemoan the crass decision-making driving by ratings, but you can’t really avoid the fact that page views are increasingly the coin of the realm,” said Jim Warren, co-managing editor of The Chicago Tribune.
So when that’s the case, what happens to those other qualities, “the reflectiveness, the ability for careful summation and expression,” in Mr. Shirky’s lovely phrase?
“The best thing about the Web — you have so much information about how people use it — is also the worst thing,” said Jim Brady, executive editor of Washingtonpost.com. “You can drive yourself crazy with that stuff. News judgment has to rule the day, and the home page cannot become a popularity contest.”
Great journalism is not always popular, in the same way the old testament prophets were not so well liked either. :) So I fear for the day that the top most emailed headlines are the barometer for success at the NYT...or any other publication.