The Pew Research Center’s annual State of the Media Report paints a dismal picture of the condition of mainstream media – in particular broadcast and magazines – but Slate’s . Which side are you on?

There’s no question that Pew’s annual media audit and survey of 2,000 consumers is about as depressing as any of the 10 annual reports that the nonprofit media watchdog has completed. Among the lowlights:

  • Nearly a third of U.S. adults have stopped using a news outlet because it no longer met their needs.
  • That’s not surprising when you consider that low-cost sports, weather and traffic information now account for 40% of the content produced on the average local newscast.
  • The population of full-time professional newsroom employees fell below 40,000 for the first time since 1978. It’s down nearly 30% from its 1989 high.
  • In an election year, the declines in coverage were particularly evident. Live broadcast reports fell from from 33% of the news hole in 2007 to 23% in 2012. And 2007 was not an election year. Commentary and opinion, which are cheap to produce, now make up 63% of  news airtime on cable channels, while straight news reporting comprises only 37%.
  • An examination of 48 recent evening and morning newscasts found that 20 led with a weather-related story. Weather coverage is cheap.
  • Only about a quarter of statements in the media about the character and records of the presidential candidates originated with journalists, while twice that many came from political partisans. The report runs down a list of informational websites that political parties and advocacy groups have set up to influence media, but some are now actually becoming the media. Pew notes several examples of major news magazines that have carried partisan reports as part of their branded news stream.
  • In that vein, Pew notes a 2008 analysis of Census Bureau data by Robert McChesney and John Nichols that found that the ratio of public relations workers to journalists tripled from 1.2-to-1 in 1980 to 3.6-to-1 in 2008. That gap has likely grown since then.
  • In summary, “News organizations are less equipped to question what is coming to them or to uncover the stories themselves, and interest groups are better equipped and have more technological tools than ever,” Pew states.
  • Incredibly (to us, at least), the public is mostly unaware that the news media is struggling. Only 39% of the 2,000 consumers surveyed said they have much awareness of the industry’s problems.

Mainstream media percentage change in ad revenue 2011-2012

Newspapers actually come off pretty well in this year’s report. Thanks to paywalls, which are in place or in the works at one-third of U.S. newspapers, circulation held steady year-to-year. The New York Times said its circulation revenue now exceeds advertising revenue for the first time.

Warren Buffett speaking to a group of students...

Warren Buffett (source: Wikipedia)

However, the long-term trends are still negative. Newspapers lose $16 in print ad revenue for every $1 in digital ad revenue gained, and that figure is up from $10-to-$1 in 2011. Equally ominous is that Facebook and Google are doing a better job of figuring out how to target digital advertising locally, which threatens one of the few pockets of revenue strength newspapers have left.

Because the long-term outlook is so bad, newspapers have become an attractive investment vehicle. Pew notes that value investor Warren Buffett has been snapping them up at a rapid clip because they are so cheap. The Philadelphia Inquirer and Philadelphia Daily News were bought for $55 million last year, which is 1/10 of the price they commanded in 2006.

Out of Mind

Perhaps the most surprising finding is the low public awareness of the news industry’s crisis, and that’s where Yglesias’ analysis on Slate is most interesting. “American news media has never been in better shape,” he states at the outset, using the Cypriot economic crisis as proof. We’re not sure the media itself is in great shape, but readers are doing fine.

Yglesias cites a “bounty” of online resources that provide context, analysis and even an interactive calculator that lets visitors try out different ideas for solving the island nation’s financial problems. It’s easier than ever to produce news using public sources and simple publishing tools, and the Internet makes boundless background information available in seconds.

Assessing the state of media by looking only at the health of traditional outlets creates “a blinkered outlook that confuses the interests of producers with those of consumers,” he writes. “[T]oday’s readers have access to far more high-quality coverage than they have time to read.”

The finding that only four in 10 Americans are even aware of the media’s struggles can be interpreted in several ways. The pessimistic view is that Americans are basically dumb, lazy and happy with the partisan screaming matches that characterize a lot of broadcast news.

A more positive view is that Americans have already moved on to using other sources and haven’t noticed the loss of their once-trusted brands. It’s impossible to know without further research, but we have to acknowledge Yglesias’s point that the decline of mainstream media certainly hasn’t resulted in a dearth of information.

No Expiration

One important point the Slate business writer makes is that news no longer carries an expiration date. Traditional media assumed that news would be consumed within a few hours or days. Archival or background information was tedious to find, so readers were mainly limited to whatever the newspaper or broadcast provided within its limited space.

Now everything is part of a grand, searchable archive, which permits people to go as deep as they want whenever they want. Those who don’t have the time to come up to speed on the banking crisis in Cyprus can put off learning about it until later. Then they can go to a resource like Wikipedia’s coverage and spend hours digging into background for more than 40 sources cited there.

We prefer the glass-half-full perspective. While the loss of the media’s watchdog function is troubling, the power of having timeless access to resources we didn’t even know existed is energizing. The challenge is to find ways to fund the valuable services that media has provided in the past so that the information that doesn’t attract search engines and sponsorship dollars still has a platform.

 

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By Paul Gillin | January 6, 2013 - 10:59 am - Posted in blogging, Blogroll, BusinessModel, Newspapers

We were just added to the 100 Best Sites for Journalists in 2012 list put together by JournalismDegree.org. Yay. Seriously, thanks for the recognition, and thanks for pointing us to some useful sites we weren’t aware of. We’ll add them to our blogroll at the lower left, which you can add to your own RSS reader by clicking “subscribe.”

List of good journalism sitesThe point of this post isn’t to toot our own horn, though, but rather to point out why JournalismDegree.org undertakes this occasional exercise (they did it before in 2009). Lists like these are all about search engine optimization (SEO), and they’re a smart way to raise visibility quickly.

JournalismDegree.org is basically a lead generation site. It lists colleges and professional development providers that offer communications-related courses. When you click through to a listed institution, you’re taken to a page on eLearners.com, where you can fill out a form requesting more information. Sponsors pay eLearners.com for each inquiry that comes in this way, and eLearners.com pays affiliates like JournalismDegree.org a commission for referring the lead.

It’s a perfectly legitimate business. Those Amazon banners you see all over the Web (including on this site) are the same basic idea. Anyone who contributes to the sale gets a small cut of the revenue.

JournalismDegree.org – and many sites like it – are very dependent on search engine visibility. It wants to be the number one or two search result for “journalism degrees” on Google, and it’s been successful in that respect. A big reason is lists like the this one. A representative sent the owner of each site on the list a congratulatory e-mail with a snippet of HTML code that easily adds a badge to the site. The code includes the alt tag “Best Site for Journalists – 2012,” which basically tells Google that JournalismDegree.org is a great place for journalists to visit.

The strategy works. JournalismDegree.org is number seven in our search results on “best site for journalists” and will no doubt move higher as more sites display its badge. Which we just did (although we changed the alt tag to something more descriptive). The more reputable the sites displaying the badge, the better it is for JournalismDegree.org.

This is smart search marketing, and any blogger or news site can benefit from its example.  Half of the equation for search engine success is in factors that you control, such as domain name, page titles, headlines and keywords. JournalismDegree.org does all of these things well. The tough part is the other half, which is getting reputable sites to link to you. One quickly way to do that is to hand out awards like this one. At least a half dozen of the sites we visited are already displaying the logo above, and more will probably follow. Which all adds up to high-quality links that fuel search success.

There are flaws in JournalismDegree.org’s list. The numbering scheme implies a hierarchy, which we hope isn’t the case because there’s no way we deserve to rank higher than Neiman or Poynter. Several of the sites on the list haven’t been updated in months and one – EatSleepPublish - has been dormant for nearly two years. Still, there’s value in the list and a lot of time and thought was put into it. We’re flattered, even though we know what the publisher’s true agenda is.

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Back in May, the New Orleans Times-Picayune became the most recent major metro daily to reduce its print publishing schedule, going from seven to three days a week. The story must really be important, because now 60 Minutes has sent Morley Safer to cover it. Watch this Sunday, Jan. 6 on your local CBS affiliate at 7:00 p.m. Eastern and Pacific times. We will.

Here’s the CBS promo blurb:

It’s a sure sign of the digital times when the New Orleans Times-Picayune, published every day for 175 years, goes to a three-day-a-week publishing schedule. As Morley Safer reports, it’s a fate many more newspapers face as the Internet becomes the source of almost instantaneous news. What does the Mayor of New Orleans think about this? See the clip below for a preview.

 

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Media critics have been buzzing for more than a week about “Snow Fall,” John Branch’s feature in The New York Times about a tragic avalanche that claimed three skiers’ lives in the Tunnel Creek area of Washington state early last year. Some people say it‘s the future of journalism, and they’re right – in a way. A loud chorus of naysayers who point out that “Snow Fall” is just the Times showing off. They’re right, too.

What’s important isn’t whether this package – which doesn’t fit neatly into the category of article, video documentary or e-book – is a turning point, but rather its importance as an evolution in story-telling. There’s nothing revolutionary about the technology the Times used. It’s the way the elements were combined that makes “Snow Fall” a great experience.Snow Fall Intro screen

For example, some of the graphics unfold as the reader scrolls down the screen, illustrating elements of the narrative in a way that feels seamless and natural. Embedded slide shows appear next to the names of key people in the tragedy, showing them in happier times. It’s a moving tribute to dead and their families that doesn’t seem heavy-handed or maudlin. It’s just part of the story.

Romenesko says the package racked up 3.5 million page views in its first week and that one-quarter of them were new visitors to nytimes.com. Ad Age complains that the ads the Times ran next to the copy nearly ruin the reading experience. Mathew Ingram superbly balances comments from both fans and critics. He concludes that, for all its elegance and beauty, “Snow Fall” still doesn’t address mainstream media’s frustrating fiscal woes. Laura Hazard Owen suggests that the “e-single” version of the feature – which sells for $2.99 – is an important endorsement of the growing mini-book concept.

We dropped by to see what all the fuss was about and ended spending an hour reading every last word and viewing every last video. “Snow Fall” is a visually stunning example of what a well-resourced news organization can produce when it spares practically no expense to break the mold. Few media companies can attempt something so ambitious (although there are some corporate marketing departments that could foot the bill). What’s important about “Snow Fall” is the ideas it introduces – ideas that will be adopted and iterated by other publishers on a smaller scale. We don’t think that’s showing off. It’s just being creative.

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By Paul Gillin | December 24, 2012 - 10:54 am - Posted in BusinessModel, NewMedia, R.I.P.

We’ve posted quite a few final covers and front pages over the last five years but this is one our favorite.

With Newsweek set to shut down its print operations today after a 79-year run, the magazine is going out with another of its famously provocative covers. This one shows a 1940s-era photo of the magazine’s logo towering over the Manhattan skyline juxtaposed with a hash tag that represents the 21st century forces that undermined it. It brilliantly contrasts the old- and new-media worlds, and it does it without passing judgement on either (Not everyone agrees with our opinion).

Newsweek isn’t going away. It will continue online and on tablets, with a new global edition planned for February. But the passing of the print edition marks the end of an era when millions of people got their perspective on the week’s news from the the troika of Newsweek, Time and U.S. News & World Report. Only Time is still in print today, and who knows how long that will last?

Tina Brown writes about the final issue, heaping gratitude on the staff.

Newsweek's Final Cover

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Two filmmakers who identify themselves as Lenny Feinberg and Chris Foster have released a trailer for what they say will be an upcoming documentary called Black and White and Dead All Over. We haven’t seen anything more than the four-minute clip embedded here, but it appears that the authors have interviewed an impressive cast of journalists and publishers. The trailer presents a sympathetic view of the plight facing the U.S. newspaper industry, pointing out that the information people expect to find for free online has to come from somewhere, and that the institutions that provide it are in peril. As one speaker puts it, ”Where is the Internet going to get its information if the newspaper in your town goes out of business?”

The documentarians provided few details about when or where the full film will be available. The URL for BlackAndWhiteAndDeadAllOver.net goes to a parked GoDaddy page. We don’t even know who these guys are. Maybe they’ll leave a comment and tell us more.

 

Journalism traditionalists who suffer from high blood pressure probably shouldn’t read this piece by Forbes editor Lewis DVorkin. In it, he outlines the role of what he calls “brand journalism” in the evolution of Forbes.com, and even in Forbes magazine. He also scolds journalists for their objections to this increasingly popular concept, saying that their interest in keeping marketing content cordoned off from staff editorial is in part an instinct to minimize competition.

DVorkin has been a vocal critic of those who cling to the traditional Chinese wall principle of strict separation between advertising and editorial. In his view, the new economics of the profession demand radical new ideas, and journalists are standing in the way. “After five years of media turmoil, the profession I love clings to the belief…that the industry’s problems are for other people to solve. And when steps are taken to solve them, my colleagues will put up a fight if they can’t do exactly what they did before,” he wrote a couple of weeks ago in a summary of the changing advertising landscape and Forbes’ adaptation strategy.

Like it or not, DVorkin’s vision of increased integration between marketing and editorial content is gaining favor in traditional publishing circles. The trend is called “brand journalism,” “native advertising” or “content marketing,” but whatever the title, it’s breaking down some traditional walls.

Business Intelligence Solutions Boston Globe promotion

Boston.com, which is the online arm of the Boston Globe, recently launched “Insights,” a sponsored advertising feature that showcases blog posts from advertisers. Boston.com is a little more aggressive about labeling Insights material as advertising than some other brand journalism practitioners, but it’s the same basic idea. The publisher appears to have no problem with participants like Business Intelligence Solutions embedding the banner ad at right on its blog, saying nothing about the sponsorship arrangement.

Some other publishers have all but erased the lines between staff and brand content. BuzzFeed, which is one of the new breed of breathless, celebrity-stuffed news sites for the ADD set, expects to derive nearly all of its revenue from branded content and sponsored posts. So far, things are going pretty well. The site was a magnet for political advertising during the US presidential campaign and is expected to triple revenues this year. Branded features, like this one from JetBlue, look the same as BuzzFeed content and carry only lightweight advertiser labeling. The Atlantic is also in the pool with Quartz, a news site that blends branded and staff-written content more or less seamlessly.

Writing on emedia, Rob O’Regan has a good summary of this trend, which has been fueled by Twitter’s sponsored tweets and Facebook’s sponsored stories. Those companies, which have no preconceptions about ad/edit separation, say these new vehicles are a resounding success. Publishers are taking notice, but a news site is not a social network. News organizations trade on credibility, and “native” ads tread into new territory. Recent research by Mediabrix and Harris Interactive found that  readers often feel confused or misled by branded content.

Mediabrix/Harris Advertising Research

Compatible Content

The reason all this is happening, of course, is that the traditional print advertising model doesn’t work in the highly targeted online world. Display advertising is the fastest growing category of online advertising, and publishers have always known that display ads surrounded by compatible content perform best. Advertisers have traditionally bought space next to compatible content, but now they want to provide the content, too, because people are rejecting traditional messaging.

Businesses are quickly glomming onto this trend. Cisco relaunched its press room last year as a news stream, hiring laid-off journalists from major business publications to write thoughtful trend pieces. Intel is doing the same thing. Coca-Cola just overhauled its corporate site as a lifestyle news magazine under the “Coca-Cola Journey“ brand. Expect many others to follow.

Sponsored content is nothing new. Mobil Oil bought space on The New York Times‘s op-ed page in the 1950s. What’s different today is that a severely weakened mainstream media is willing to be more the creative than ever in placement and labeling – even if that means potentially compromising their own brands.

Is this a horrifying development? The journalism purest in us says yes, but we’re inclined to keep an open mind. Lewis DVorkin has a point when he says journalists live in a bubble.  Social media have shown that good information can come from anywhere, even from people who aren’t journalists. As media organizations have learned to their chagrin in recent years, you can’t shove anything you want down people’s throats when they have infinite choice. The same applies to advertisers.

Regardless of who the author is, anyone who publishes content is at the mercy of readers. Marketers who publish the same dreck on branded media sites that they use to fill their purchased ad units won’t see much return on their investment. If people don’t want the content, it doesn’t matter how much you pay to publish it.

So the stakes are higher for marketers, too. The question is how many of them can successfully change their perspective to think like publishers. In our experience, precious few can. The natural instincts of people who have grown up in the traditional marketing world is to sell at every opportunity, not to serve the informational needs of the audience.

This will change over time as a new generation steps in, and publishers will play a key role in effecting that change. They will need to work with their clients to make sure the sponsored content they carry is worthy of their brand. It can be done. Admit it: If you clicked on the JetBlue link above, you scrolled down the entire page. It’s good stuff, even though it’s sponsored.

The silver lining is that if “native advertising” can become a major new revenue source, it can enable publishers to re-invest in quality journalism. In the end, that’s more important than labels or Chinese walls.

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Here’s a news item we didn’t expect to see. Borrell Associates now predicts that U.S. newspaper revenue will rise in 2013, although only by a scant .5%. If the prediction holds true, it would be the industry’s first revenue increase since 2006.

Magazine Print Editions, Websites & Tablets # of Unique Brands Advertising
Time Period Print + Web + Tablet
(unduplicated)
H1 2010 9,536
H1 2011 10,768
H1 2012 14,949
Source: Kantar Media
Base: 60 Publishing Brands with monitored print editions, websites and tablet editions

Borrell’s optimistic newspaper forecast defies conventional wisdom. The research and consulting firm has no particular incentive to bolster the print newspaper business, but it has been forecasting a turnaround for a couple of years. CEO Gordon Borrell said he expects most of the revenue growth to accrue to small newspapers, which have been the most resilient segment of the business during its historic decline. Large dailies will continue to see the annual 4% to 6% declines that have been the norm for the last few years.

The turnaround is shaky, though. Pre-print ads, which typically bring in about 20% of all advertising revenue, could decline as the result of a sweetheart deal between the U.S. Postal Service and a large direct-mail company. The Newspaper Association of America’s howls of protest about the contract have so far fallen on deaf ears.

Borrell is also putting a lot of faith in local online advertising, which it predicts will grow 30% next year. Given that online ad growth at newspapers has been in the single digits annually for the last four years, that seems a stretch. You can hear all of Gordon Borrell’s comments in this recorded webcast.

There’s also good news in magazine land. The Magazine Publishers Association surveyed its members and found a 57% jump  in the number of brands advertising on all magazine media platforms since 2010. That includes tablet, online and print advertising.  The MPA also said magazine apps are some of the highest-grossing titles in the areas of lifestyle, health & fitness and news in the iTunes store.

Publishers apparently are a pretty upbeat bunch. A new study by Michael Jenner of the University of Missouri’s School of Journalism finds that two-thirds of newspaper publishers are optimistic about the future, and only 4% are pessimistic. Jenner said the research is based on 450 in-depth interviews with senior publishing executives. They’re moving ahead aggressively on digital platforms, but 60% “do not envision a time in the future when their individual publications will no longer issue print versions of the news.” We admire their optimism, but that’s just nuts.

The Numbers from Nola

Ken Doctor has no illusions about the future. “We all realize that, at some point, daily print will go away,” he writes at the top of this financial analysis of the New Orleans Times-Picayune‘s frequency cuts. Doctor understands the economics of the news publishing business as few people do (his Newsonomics site is a must-read), and this analysis is a useful insight into the revenue and expense models of metro dailies.

Doctor estimates, for example, that circulation brings in about 30% of total revenue at the Times-Picayune and that the four daily editions that are being eliminated contribute between 25% and 30% of print ad revenues. The net result of the paper’s cutback from seven to three issues per week is about an 11% advantage in profitability, he estimates. That’s good, but there are big risks. One is that the T-P is bucking the trend of deriving more revenue from readers and actually doubling down on advertising as a strategy. In effect, it’s doing more of what got newspapers into trouble in the first place.

Meanwhile, the competitive news environment in the Big Easy has made the paper a tempting target for everything from a startup called The Lens to the Baton Rouge Advocate. “Simply, the T-P’s slimming has opened up a floodgate of competition,” Doctor writes. “That makes the distinctive value proposition of the T-P harder and harder to get paying readers to accept.”

That isn’t stopping owner Advance Publications from methodically duplicating the frequency-reduction strategy across its portfolio. The limited success of that strategy in Detroit, where the Free Press and Detroit News made similar frequency cuts nearly four years ago, isn’t necessarily a reliable guide. The Detroit media market is a lot less competitive than New Orleans’, and the strategy hasn’t stopped the steady drumbeat of circulation declines and layoffs.

Incidentally, Nola residents haven’t taken the T-P cutbacks lying down. Grassroots efforts to reverse Advance’s decision testify to the unsinkable spirit of that unique region.

Update, 10/17/12: A survey by Cribb, Greene reports that newspaper publishers are increasingly confident about the future. More than 40% said their local markets are improving, up from 14% in 2011. The percentage who expect profitability to improve this year rose to 52% from 39%, and those who expect advertising revenue to be higher in 2013 grew by a similar margin. Asked if they would buy a newspaper business in the current economic climate, about half said “no.” However, 69% responded “yes” or “maybe” when asked if they would recommend the newspaper business as a career for their children.

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By Paul Gillin | September 6, 2012 - 2:17 pm - Posted in Business News, BusinessModel, Future of Journalism

Journal Register Co., which has been the poster child for the “digital first” strategy that many newspapers are pursuing, declared bankruptcy today, just three years after emerging from a previous bankruptcy filing. This doesn’t mean the end of the road for the company, of course, but it does dramatize the difficulty of transitioning from a model based upon captive audience and economies of scale to one that accommodates constant audience churn and targeted advertising. We still like CEO John Paton’s vision for reinventing news.

Mathew Ingram has an excellent analysis on GigaOm, as usual. There’s not much we can add to it. As Ingram states, “Digital first is not a magic wand.” There’s still a massive amount of legacy baggage that needs to be discarded. We particularly like his characterization of paywalls as “just a line of sandbags against the rising tide.”

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James Macpherson, Pasadena NowEver heard of James Macpherson? If you’re a veteran journalist, you probably have, although you might know him better as “that asshole who fired his entire reporting staff and outsourced local coverage of Pasadena, Calif. to India.”

We got a note from Macpherson the other day pointing out that recent trends would indicate that he was a trailblazer, not a nut.

In spite of the clobbering in the media I took for the idea then — and in spite of the Journatic debacle now –  the truth remains that some form of editorial outsourcing IS coming to newsrooms near you, and probably soon…Newsroom outsourcing is inevitable. The idea is so powerful it should be explored and discussed, not simply rebuked.

Macpherson also pointed us to a couple of his own blog entries on the subject: “The Outsourcing of Hyperlocal Journalism Is Inevitable” and “And Now, A Penny for My Thoughts.” They’re both worth reading. As we pointed out recently, the price of journalism is being readjusted to a new equilibrium point, and ideas like outsourcing local city council coverage to writers in Manila aren’t nearly as far-fetched as they once seemed.

It’s a Business

A lot of debate about the future of journalism has been tinged with emotion, which is understandable given how many jobs have been lost. The harsh reality, though, is that the vast majority of journalism is practiced by profit-making organizations. These companies are struggling with seismic shifts that have changed their business model forever. Advertising costs are in long-term decline, reader switching costs are zero, barriers to competitive entry have vanished and mass media are being displaced by specialized media. Any organization that hopes to survive in such a market needs to do things differently.

The approach to outsourcing that Macpherson outlines in this post is rational and workable in many scenarios: Offshore whatever can be offshored and have the people on the scene focus on capturing the action. Keep expertise local and farm out the rest.

If you’ve ever worked in a newsroom, you know there’s a lot of work that doesn’t require people to leave the office. Copy editing is a desk job. So is obituary writing. Editors fill holes on print pages by rewriting wire copy. Sports editors rarely go into a locker room and city editors don’t cover school board meetings. They’ve done all that stuff and graduated to jobs where they supervise others.

Some of this stuff is easy to outsource, and a lot of it already has been dispatched to interns or specialty shops like Legacy.com. The tough part is deconstructing jobs where experience is an asset, like the sports editor. Those jobs should stay intact on these shores, although some of the routine work may be able to be done elsewhere.

Get Me Rewrite

Journalism has traditionally been a vertically integrated craft. The reporter who covers the city council meeting is also expected to write the story, even if that person can’t compose a coherent paragraph. We’ve all known people who were great fact-finders or interviewers but who couldn’t write. Rewrite editors were an early tool to compensate for that. Now technology is taking deconstruction to a new level.

Anyone with a smart phone and an Internet connection can now be a live streaming news source. People on the scene can embellish or correct a published account, even if they don’t work for the news organization. Aggregating, summarizing and commenting upon published reports is the essence of what most bloggers do. In many cases, being on the scene isn’t nearly as important as it used to be.

Outsourcing is not an all-or-nothing proposition, but a process of optimizing for value. Move routine work to the lowest-cost source and invest in stuff that makes a difference. Businesses have done this with manufacturing, payroll, facilities maintenance, information technology and the many other tasks for years.

But what about quality? That’s the most common objection to outsourcing in general, but we think markets are pretty good at figuring that out. Journalists aren’t the ultimate arbiters of quality; their readers are. If you believe that the public no longer has an interest in quality journalism, then outsourcing is a pretty depressing prospect. However, we don’t think the public is that stupid.

Macpherson is right: These ideas should be developed and not dismissed as lunacy simply because they break with tradition. If someone can put out a journal at lower cost that its audience values and that someone will pay to support, then the market will make it own decisions.