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People forget that the fall in sales did not preceed the massive job losses in editorial journalism, it followed it. The job losses were brought about by financial management that required 30% return on investment per annum. Then we ended up in the msm death spiral as dumb content failed to attract readers and so needed ever greater cuts to keep the profits up. keep to the Fen Causeway
It "has to pay for itself" (i.e. be made profitable for some rentier somewhere) so jack the prices up and reduce the service... which reduces ridership... which reduces revenues... so jack the prices up some more... rinse, repeat until the patient dies. The difference between theory and practise in practise ...
The job losses were brought about by financial management that required 30% return on investment per annum.
For all the good it did, there were a lot of us, in various newsrooms at the time, yelling and hollering that This. Will. Not. End. Well. But as someone said, your voice is guaranteed being heard only if you own the printing press.
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