It looks like Denver will be the first major city to be without a major daily newspaper [oops, I forgot about the Denver Post].. The Wall Street Journal reported today that the Rocky Mountain News is folding its operation. The idea that the demise of a major [market] newspaper was imminent was reported in the Viodi View a few months ago and has been rumored for years (the industry bets were the newspapers in the Bay Area would be the first to go).
Unfortunately for people like me who enjoy reading the paper with my morning cereal, advertising revenue is declining faster than the newspapers can cut costs. The fall of the Rocky Mountain News portends more failures of daily newspapers. Still, local advertisers are still going to have to get their messages in front of potential customers.
The lack of local newspapers in major cities will probably lead to even more opportunities for purveyors of online and local video advertising. It will be interesting to see what new forms of advertising rise from the ashes of these once powerful and influential sources of local news and how Telcos might be able to share in this new revenue.
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