Can't we just all get along? Print media mogals like the New York Times are looking for innovative ways to have the two co-exist.
Social media and traditional media work well on their own. Television and printed media have been informing and entertaining audiences for years. But over the last few years, some people believe that traditional media has been losing the battle against social media and the Internet. But traditional media isn’t going to disappear anytime soon, it just needs to use social media to its advantage.
The New York Times example:
Some people can argue that social media and the Internet have struck a powerful blow to the printed newspaper industry over the last couple of years. After all, people share and “like” news electronically, so there’s no longer a need to leave the comfort of your desk and pick-up a hard-copy. Just check out what your friends are talking about on Facebook or log into CNN.com to find out what has been going on in the world while you slept.
But the newspaper industry isn’t dead - not yet anyway. And some print industry icons like The New York Times are using new and social media to their advantage. The New York Times has launched a digital subscription package earlier this year to make up for their drop in income that was once brought in by the printed version. It has been doing very well since its launch in March, and according to Janet L. Robison, chief executive officer The New York Times “Our digital model exemplifies our growing ability to capitalize on secular trends that show consumer willingness to pay for content across multiple digital platforms.”
Instead of wallowing in self pity over the fact that most people we’re getting their news from the Internet, The New York Times jumped on the social and digital media bandwagon and used it to their advantage by getting people to pay in order to gain access to their news via the Internet and other digital applications.
So did it work? The jury is still out. In just a few short months after its initial launch in March, and if you count the number of digital subscribers and the people who subscribed to be able to read their news on various e-readers, you get a total of 281 000 subscribers, which may seem small for some, but it’s an indication that people are willing to pay in order to get their news. How many people actually paid is unclear though since digital subscriptions are included with some print subscriptions. But in any case, it shows that when you innovate, you can get new and traditional media to support each other, or at least transition your loyal redership.