Internet Killed the Newspaper Star: Why So Many Newspapers are Filing Bankruptcy

Nothing like the downfall of our economy and a new President to affirm video on the web as a mainstay for voters across the country. The onslaught of video news on the web about AIG, the economy, and even President Obama on Jay Leno has reached magnitude proportions and seems to be the main way for people to get news and see video or TV shows they may have missed otherwise. You can Google or search the web for almost anything and the amount of results you get for videos on just about any subject never ceases to amaze me. Seems like people don’t watch TV anymore or people don’t read the newspaper anymore. This is evidenced by the statistics indicating higher viewership on sites like Youtube and other online video channels, and why almost all newspapers and TV shows have online video as well. This shift is great for video companies and video editors, but sad for newspapers. It seems like the days of having a newspaper delivered to your front door are nearing an end. Newspapers across the country are filing for bankruptcy at an alarming rate. It makes me think of a song back in the early 80’s, “Video Killed the Radio Star”. Well, radio is alive & well, but I think instead that “Video Killed the Newspaper”, along with a lot of News Reporters and other people losing their jobs. It’s apparent that they need to restructure under Chapter 11 by reinventing themselves with VIDEO!