Media is falling victim to technology. Really?

"The media industry is a leading indicator of how digital technologies undermine old assumptions about how companies create value." Check out Wall Street Journal Article: http://online.wsj.com/article/SB20001424052748704429304574467100596288512.html

This claim is spot-on. Many media companies are dying for the resons detailed in the article cited above. Likewise, I agree that a portion of this problem can be solved by limiting free online access to media, if the fees to media consumers are modest and offer a broad spectrum of options to the cosumer related to how much media they want to purchase at a time such as works from a particular journalist or a day's worth of news.

Perhaps all is not lost. Check out http://www.journalismonline.com/ for a potential solution.

I believe that another strategy is to look beyond traditional sources for media inclome (e.g. advertising and susbscriptions). Media companies need to think strategically about the various platforms that new technology has brought to the table. What needs do media consumers have that media companies can meet and for what price and how can utilizing new technology help keep costs low and profits high. Hint: you can sell more than just articles.

Gordon Crovitz is the author of the Wall Street Journal article referenced above and co-founder of Journalism Online.

Thanks Gordon.