This is no ‘golden age’ of journalism. These are the news media end times

By Bob Garfield – Over at Slate the other day, Matthew Yglesias argued that journalism consumers are enjoying a “golden age”.

The news industry has gone from being obscenely profitable to slightly profitable to – at least, in the case of newspapers – largely unprofitable. All of that fantastic content Yglesias was gushing about is paid for by venture capitalists making bad bets, established media companies digging into their savings accounts to pay the bills, displaced workers earning peanuts, amateurs, semi-pros, volunteers and monks.

I would say that the business model is unsustainable, but losing money is not a business model. It is a going-out-of-business model. more>


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