What is the Role of Newspapers in the 21st Century?

Who should create the news? How should it be consumed?

These are questions every newspaper and news organization should be asking. It was the title of a recent presentation that I gave to several international newspaper executives where opportunities were outlined, and followed by rich discussion.

Defensive postures are occurring – ones that foreshadow an inevitable demise. The most recent indication that the newsmedia is changing is today’s announcement that Gannett Co., Hearst Corp., the New York Times Co. and Tribune Co. are creating an advertising network called quadrantOne. The intent is to allow national advertisers to buy space in the companies’ local properties.

Being forced into a network with your competitors is a defensive posture. (The offensive version is called collusion, which is highly illegal). The papers are doing this because advertising is flat. From the Wall St. Journal:

“The formation of the partnership comes as the newspaper industry is struggling with falling advertising revenue, a result both of advertisers defecting to the Web and the weak economy. Difficult industry conditions sparked a new wave of cost-cutting this week.”

Newspapers need to find a way to become relevant again. And there are many options to:

Present news in a new format; invite interaction; benefit from the wisdom of users; allowing the users to create the news; and ultimately create a new definition of “news”.

To discuss further, I welcome comments or insight on how you think the newspaper industry should change.