I think we have seen the same drama in newspapers. More ads. Even whole cover page, is an advertisement. Reduced readership, and unlikely to attract more due to high advertising volume.
Yes, For example, nearly all job advertisements used to be in newspapers. Rivers of gold, they were called in the Australian print media. All that revenue is long gone from newspapers.
Have to, unfortunately, agree with the low value of the Sunday papers, even decades ago. Toss out the piles of ads, sports, comics, gardening, and you were left with a sliver of generic stories they could have printed any time.
One thing I suspect has been a blow to the news is that they used to be able to pretend people would look at all those ads. How many people were genuinely looking at all that? Now it's extremely easy to learn that its just not happening.
As far as ad revenue goes, I don't know if it's true that online ads are less effective than print, but I know that there are a heck of a lot more of them to compete for advertising dollars. Advertisers still pay for reach into a target market (which is why you can get crazy high CPM rates for things like travel forums), but today there are simply a lot more sources for undifferentiated eyeballs than there were in the 60s.
Your point that ads have always existed is well taken, but if newspapers looked like a local news site today people wouldn't have bought them (its more akin to the free weekly tabloids than a real newspaper). Newspapers used to make money through classifieds in addition to subscriptions. If only there were local-oriented services newspapers could provide - I hope someone figures out a better model soon.
> Since news is accessed only via subscription, most of the ads can be eliminated from the pages. Story pages could still have one or two tastefully-presented ads, but preservation of the content is what will keep readers happy, engaged, and willing to continue paying their subscriptions…just like in olden times.
Advertisement have always paid for most of journalism. If the equivalent of classified ads magically vanished from the internet, there would be a rebirth of small newspapers, and the big ones would become much healthier.
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