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Predicted END of the Newspaper Era (Who Reads 'Em Anyway?)

Do you still advertise your listings in the printed newspaper? I don't. Why? Because I don't receive any phone calls from those ads. And it's expensive to keep running ads in a source that most folks don't use any more. We've all heard the stats that over 80% of home buyers begin their search online. No duh! Who reads the newspaper any more? You and I sure don't (we spend way too much time online and wouldn't have time to read a newspaper even if we wanted to). That's why you're reading this blog info now, isn't it...

CNN.com's article quotes industry expert and social media consultant Paul Gillin as predicting that print newspapers will vanish in a few years. '"Information has become democratized today," said Gillin, who has predicted print newspapers will disappear by 2015. "You get a lot of advice from your friends, blogs and multiple media sources. Who reads just one newspaper?"' Click here to read it all:

http://www.cnn.com/2009/US/03/19/newspaper.decline.layoff/index.html?iref=mpstoryview

The article goes on to say that, "The future offers the industry little comfort, with studies showing newspapers have lost a generation of young readers." No duh. And they had to do a STUDY to figure it out? That just shows how out of touch they are.

At a business expo a few years ago, a sales rep for the local newspaper was trying to sell subscriptions. We had a brief discussion about the future of print medium such as newspapers. I told him that I thought the industry would evaporate soon.

"My college-age children have never read a newspaper, and probably never will," I told him. "They get all their info online and text messaged,"

He got a little unnerved at my prediction: The newspaper industry would fold in a few years because they haven't kept up with technological needs. I observed that the newspaper companies "failed to realize what type of business they are in." The have been thinking they were in the newspaper-printing business, when in fact they should have recognized they were in the information-providing business. And they should have adapted to new information-providing sources early on -- in fact, they should have been the leaders in the information business. But it's too late now. Listen, in the background, can you hear the bell tolling?

Oh and by the way, guess where I read this CNN news article? On the internet, of course. It's quick, it's convenient, I can find what I want WHEN I want. And if I don't like their "slant", I can pop on over to the Fox internet site, the MSNBC site, Huffington Post, or many others. Many opinions to read and ponder, that's my style!

What about you? Are you still advertising in the newspapers? If so, what are your ad responses?

Join my new AR group and post your blog at http://activerain.com/groups/virtualoffice

Regina P. Brown
Broker, Realtor®, e-Pro
Author of eBook "Stop Foreclosure Fast: Solutions to Save your House"

Posted by Regina P. Brown, e-Pro Realtor® on 03/23/2009 02:16 PM

Comments (21)

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21 Comments on Predicted END of the Newspaper Era (Who Reads 'Em Anyway?)

MAR

Hi Regina~ Our company still advertises in the newspaper, but not near as much as they did this time last year. It is a dying breed, that is for sure! It doesn't work, but the sellers here expect to see their homes in the paper. What a waste of money....

Regina ~ You hit some key points to back up your statement "..End of the Newspaper Era." Times have changed with the Internet generation and I do my believe my children will grow up getting most of their news and information online! I still like to read the newspaper but do not advertise for the reasons you stated, to much money, no leads! Go figure, everyone is online looking for their dream home!

Vickie, yes we have the same issue as most of sellers over 60 years old will expect to see their listing in the paper (since they read the paper).

Terrie, it looks like most folks under 35 do not read newspapers. I can't believe that the industry is just now looking at its future.

We don't advertise in the paper as it never seems to generate any responses. Here in Cleveland, a few big companies run ads, but that is more for their image than anything else. The internet seems to be the way to go and has been for several years. Thanks for the post.

The newspapers here are very out of touch with the public. Their articles are far from reporting. Only those who can't get online read them.

I don't do print anymore, either.

And your kids are not alone. I was watching one of the political talk shows on PBS last Friday and one of the panelists mentioned the same thing - his [college age] children had never read a newspaper. They get all their news on-line. My own hometown newspaper (The Washnington Post) is shrinking more and more every week. They're consolidating sections, getting rid of others completely. Heck, they're even dumping a lot of the comics! What else is a newspaper for???

Dan & Amy, the CNN article says that some major newspapers are losing $1M per week.... that's really bad...

Heath, I agree that it's kind of hard to spend the whole day reading the newspaper when in a few minutes you can find several different news sources about a specific topic.

Ken, no more comics! That's the best part of the newspapers! I wonder what'll replace comics online???

The only remote value I see in newspaper ads might be for open houses.

As much as there are many better sources to collect a list of local open houses, many buyers still seem to go to the local newspaper each sunday.

Each week I ask my open house guests how they found me and I do get 1 or 2 who say the newspaper.

Most come off the signs, next would be from the internet ads.

I rarely if ever advertise in the newspaper, like you I see it as a waste of money that would be better spent somewhere else.

I never thought I would see the death of so many papers in my lifetime Regina. The world is spinning so fast with the internet. I get the Wall St on line now - not so many papers to pic up and I think i read it more often. Wild times...

We still run ads and we still get buyers from the ads according to OH sign in sheets. I believe the end of newspapers may very possibly lead to the end of our form of government since it depends on a (somewhat) educated and informed populace. There is not a replacement ready to go for newspapers in my opinion. Woe is us.

Liz

We only use a newspaper ad when a client insists, Open houses, and Builders.

Why are newspapers dying. They are not looking at the times. no pun.

the local paper here is "reporting" more and more national news written from outside. They have to be local. If they are not a local asset they are irrelevant.

Hey, everyone, thank you for sharing those thoughtful observations.

MAR

Quite funny as the local mullet wrapper wrote almost a full page on how solvent they were and they were not going out of business and on, and on, and on, and on, and on...

Your building consultant for life in Brentwood, TN

I agree that the newspaper is becoming a thing of the past. More and more people are coming through my open houses because they saw it advertised on the internet and not the newspaper.

Michael, when someone tells me what they're "NOT" doing, I immediately get suspicious... I've found that they are usually telling on themselves -- what they really "ARE" doing. Like the kid with chocolate around his lips who swears he didn't eat that chocolate cookie!

Irene, I agree, I've seen the same trend also.

MAR

Though I agree that printed periodicals are loosing readership, revenue and relevance I see that the news business continues to explode and is looking for a new venue where it can thrive.

The internet is an obvious place for newspapers to target but with the Kindle 2 recently released, I see a world where newspapers can regain market share and give REALTORS another platform in which to advertise.

For now, we still advertise in the major newspapers (Los Angeles Times) because their readership is sizeable and our clientele deems it a necessary marketing tool.

Finally, I don't think newspapers will become extinct. We still need them as a portable entertainment source. Afterall, its hard to take a lap top to the bathroom and I'm certainly not taking my Kindle.

Hugo, thanks for your comments. Looking forward to seeing more of your posts!

MAR

Regina,

It will be interesting to watch. The one thing about journalism is that in order to do an in depth story, an expose, it costs money. So funding has to be out there for citizen journalists and bloggers and of course there should be a code, a standard of ethics and reporting that evolves, otherwise the citizens will become disgruntled and turned off of online reporting.

MAR

Our company was one of the first in the area that pulled the large ad from the Sunday paper. We were just not getting the results that we should have been. It was a huge expense and not effective. At first, it was hard to convince some Sellers that were not as Internet savvy, but now, pretty much everyone is on the same page. The newspaper still proves effective for some specific needs, such as rentals or open houses, but for the most part, we avoid it.

Susan, I think that Open Houses will soon be more frequent on the Internet too! Just wait....

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