It’s really a matter of ‘spinion’, The Australian front page reads ‘Fairfax downsizes its future’ whilst the Financial Review see’s the glass half full with ‘Fairfax spearheads digital age’. Which ever way you look at it, News Ltd and Fairfax who collectively own Australian media, announced down sizing and staff retrenchment in order to cut cost at flagship newspapers around Australia.
As that old adage suggests, ‘when the market moves, business must move with the market’ or perhaps more aptly put, ‘follow the money’. This is after all common sense and in this instance, the market has moved from traditional print advertising to electronic consumption. Media moguls have rightly identified e-media as not only a neat diversification or revenue stream, but a fundamental for the future of media.
However, the result is decreased numbers of journalists on staff and the need for broadly appealing content to leverage economics of scale making our accountants and share holders happy. However the hidden danger is a lack of diversity, a fundamental to journalistic integrity. People today may very well be interested in what Kim Kardashian is wearing to her next wedding, but are also interested what the local member of parliament is doing about services at the local hospital. With a newspapers changing focus to centralised journalism in capital cities, local content must not be forgotten in the process.
Change in inevitable, diversity, critical.