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Peter S. Scholtes
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"A lot of the general tone in journalism right now is that of martyrology... 'We were doing our job. Making the world safe for democracy. And all of a sudden, terra firma shifted, new technology. Who knew that the Internet was going to overwhelm us?'
"I would buy that if I wasn't in journalism for the years that immediately preceded the Internet, because I took the third buyout from the Baltimore Sun. I was about reporter number 80 or 90 who left, in 1995. Long before the Internet had had its impact. ... Those buyouts happened when the Baltimore Sun was earning 37 percent profits...
"We now know this, because it's in bankruptcy, and the books are open. Thirty-seven percent profits. All that R&D money that was supposed to go in to make newspapers more essential, more viable, more able to explain the complexities of the world. It went to shareholders in the Tribune Company. Or the L.A. Times Mirror Company before that. And ultimately, when the Internet did hit, they had an inferior product, that was not essential enough that they could charge online for it.
"I mean, the guys who are running newspapers, over the last 20 or 30 years, have to be singular in the manner in which they destroyed their own industry. It's even more profound than Detroit making Chevy Vegas and Pacers and Gremlins and believing that no self-respecting American would buy a Japanese car in 1973. It's analogous up to a point, except it's not analogous in that a Nissan is a pretty good car, and a Toyota is a pretty good car. The Internet, while it's great for commentary and froth, doesn't do very much first-generation reporting at all... The economic model can't sustain that kind of reporting. And to lose to that, because you didn't-- They had contempt for their own product...
"For 20 years, they looked upon the copy as being the stuff that went around the ads. The ads were the God. And then all of a sudden the ads were not there, and the copy, they had had contempt for. They had actually marginalized themselves."
Posted by Peter S. Scholtes at May 9, 2009 9:55 AM
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yo Peter, sad but true, I was meetings with a major label marketing meeting and someone suggested selling artist artwork, inside sleeves and back cover with sponsors logos directly on the artwork, I was stunned. That was in 2004, seems were not far from just stampimg Nike,a car co, any beer co., any clothing co., etc logo on the freakin cover.
Whats the alternative, no new De La Soul, or given in to whoever is willing to assist. Tought spot no doubt.
Posted by: Sound Vertie at May 9, 2009 10:58 AM

