Sunday, April 29, 2018
NEWSFLASH!!! DEAD-TREE KANSAS CITY STAR INCREASINGLY DEPENDENT ON DIGITAL SUBSCRIPTIONS AMID DEATH RATTLE OF NEWSPAPER INDUSTRY!!!
Today's news cycle was dominated by telcom industry consolidation but an even more ancient industry suffers harsh time economic times and now desperately searches for online revenue just like every other blogger.
To wit . . .
THE LATEST QUARTERLY REPORT FROM KANSAS CITY STAR PARENT COMPANY McCLATCHY TOUTS DIGITAL REVENUE AS THE PUBLIC FORSAKES NEWSPRINT!!!
Local newspaper purists (who all run crappy blogs that don't get a 1/10th of TKC traffic or user participation) might claim that the Kansas City Star taking their "journalism" game to the Internets is a great thing . . . These same dweebs who are out of the loop and don't really understand that the local newspaper is giving up their competitive advantage in an attempt to transition into a "media company" and basically working the exceptionally tough sponsored content angle whist balancing newspaper "ethics" (lulz) with the need to push product on behalf of advertisers who can more effectively target consumers via direct interaction on social media.
Across all 29 McClatchy newspapers, subscriptions digital subscribers have reached only 112,200. To be fair, The that number represents a 33 percent increase amid a partnership with Google and following years of stagnation on this front. Anybody who understands the news game realizes that digital subscriptions will never replace the go-go era of seemingly limitless digital classified advertising that has now gone the way of the dodo thanks to the Internets.
Nevertheless . . .
Take a look at the McClatchy 1st quarter report and notice it's just a lot of bad news dressed up in optimistic verbiage.
The money line:
"The company reported a net loss in the first quarter of 2018 of $38.9 million, or $5.04 per share, narrowed from a net loss of $95.6 million, or $12.60 per share in the first quarter of 2017. Additionally, the company reported an adjusted net loss, which excludes severance, unique tax items, and certain other items, in the first quarter of 2018 of $20.3 million, compared to adjusted net loss of $14.5 million in the first quarter of 2017."
That's right . . .
THE KANSAS CITY STAR PARENT COMPANY LOST 20 MILLION BUCKS LAST QUARTER AND CALLS IT PROGRESS!!!
Kansas City newsies like to distance themselves from this economic reality but the fact remains that their scale and distribution wouldn't be possible without a corporate parent. Without McClatchy, the staff of the Star might be able to run a 3rd rate local blog at best.
Real talk . . .
Anybody buying gas tonight will notice a bunch of discarded Sunday papers as the public has far less interest in the news of the day. A journalism reality check: Only a trash talking reality TV show host was able to convince American voters to return to the polls, this weekend it took a raunchy comedian to drum up interest in the news and, objectively, the power of newsprint has severely diminished as The Kansas City Star rarely challenges local government benefactors who control its tax breaks. Kansas City's largest daily paper mostly serves to relay DNC talking points, stand first in line to dress up press releases and serve as a mediocre middle-ground for the opinions of the fading American middle-class rather than engaging the broader community. Sadly, all of this would more effectively be accomplished by a few thinly staffed social media accounts rather than an army of trucks delivering scraps of paper across the city that are no longer in demand.
You decide . . .