You drink your cup of coffee, read through your Orange County Register and everything seems the same as it always has been. Well, not exactly. Terry Horne, the president and publisher of the Orange County Register presented us with an overview of the newspaper publishing business and how it has changed. In fact, In the last 2 years, the newspaper business, as we have always known it has had to make drastic changes.
The newspaper industry is beginning to learn what customer service is all about. So, what do readers want? Today’s readers want news here and now and that means quick access by way of the web and cell phone. Therefore, Orange County Register has been shifting to more on line, quick information way of presenting the news. Notwithstanding, Mr. Horne emphasized the importance of the more “traditional” news reporting to our society.
It provides us with unbiased information about what is happening in the world through various investigative news reporters. We must make sure that this form of news reporting does not disappear. Indeed, Google, Yahoo, Fox news etc still get their information from news reporters, getting that information virtually free of charge and then passing it on to the end users.
Pointing out the economic dilemma facing newspapers, Mr. Horne also mentioned that advertising income has shrunk drastically due to current economic conditions and therefore newspapers must look to other sources for income. In addition, they must retain existing advertisers who, more often than not, move to web advertising. As he stated, it is less costly to retain customers than acquiring new ones.
In conclusion, this was a very insightful presentation by a very dynamic speaker who gave us all a glance into the publishing business and the challenges the current business model faces.
