One of the most interesting, and rapidly escalating dynamics in media today is the degeneration of mainstream media products, most notably newspapers. With circulation dropping every six months, an aging readership, and quite ironically, increasing advertising rates to meet a corporate bottom line, newspapers, even traditionally strong ones such as The Boston Globe, are in serious trouble.
Today, The New York Times wrote down the value of The Boston Globe and its sister newspaper, The Worcester Telegraph, by $817 million. Having paid just under $1.3 billion for the papers when they bought them, this is a shocking number.
However, it is not a shocking development. In our 24 minute news cycle world, with emerging technologies altering long established practices overnight, remember YOUTUBE is not even one year old yet, traditional media that does not adapt is doomed.