Opinion by George F. Will: How the news business’s economics altered the news itself
The crumbling of newspapers’ ad-based business model began with the migration of classified ads to the internet. In 2000, they gave newspapers $19.6 billion — about a third of papers’ revenue. In 2013,Google’s $51 billion in ad revenues eclipsed American newspapers’ total ad revenues of $23 billion. By 2018, revenue from classifieds was just $2.2 billion.
The “awareness threshold” — 60 percent of a cohort using social media — was reached for urban, college-educated 18- to 49-year-olds in 2011. A more conservative demographic crossed this threshold in 2016, the year of a political earthquake that provided the mainstream media with a commodity they could sell to digital subscribers — Donald Trump as “existential danger.”
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