It has become conventional group-think to believe that no one can make money from the incredible number of eyeballs going to the Internet, and that CPMS on Internet advertising will never catch up with newsprint CPMS, hence the general newspaper company malaise. (You know that group think thing? Like credit derivatives is a sure fire way to make money?)
I agree with the latter part of that Internet belief, but not the first. It's just that no one has figured out how to make money from the FUCKING INCREDIBLE AMOUNTS OF READERSHIP, something never seen in the history of mankind.
Or maybe they have, and we just don't know about it yet.
All these media gurus and commentators like Fishbowl are going to look pretty dumb when someone with smarts cracks it and makes quite incredible sums of money.
Here's some classic group think.
It's not surprising that traffic to newspaper Web sites keeps rising. Frankly, if it doesn't, the industry is in even more trouble than previously thought. Revenue from Web ads will never make up for the money that's no longer going towards the print versions, but as long as traffic keeps growing, the model isn't completely broken.
So the news from Andy Plesser at Beet.Tv stating that the Washington Post's online arm, WashingtonPost.com, has seen record growth in video streams and page views is a good sign.
The site had 1.3 million video streams in September, 162 percent over last year, and it delivered 323 million page views over the same time period, an increase of 42 percent. Now if only someone could make some money.
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