It died of a business model, they say. Advertising no longer pays the bills, and the damned readers refuse to pay like they did “back in the day.”
This is nonsense. Readers never paid for journalism. What they paid was the cost of getting the paper from a printing press to their front door, or into their hands at a newsstand. The printing, the paper, and the workers were always paid from the advertising in the paper, and due to the high costs associated with printing and distribution, editorial only got 8% of the budget anyway.
With the Web, most of those costs disappear. You no longer need the printing press. You don’t care about paper costs, or ink costs. All you need is a Web site, and there you get to take advantage of cloud economics. Reach and frequency are free.
No. If journalism is dead it is because it has lost its function, its true reason for being, no matter what lies they told you in journalism school.
Journalism is about making markets.