It’s an interesting thought. As anyone watching the industry knows, Craigslist.org and other web-based classified ad services have eroded the financial underpinnings of the newspaper. Last month Mike Cassidy, in MediaPost (registration required), postulated that a new media phenomenon may actually come to the newspaper’s rescue.
… Newspapers are in a position to leverage their unique assets and benefit from the video trend. By having journalists and reporters not only file their stories in a video format, but by also providing B-roll or ancillary footage, newspapers can create more and higher-valued ad placements.
I see a similar opportunity when it comes to video and classifieds â€” with the real question being, who will leverage it?
The answer is that several publications are certainly trying. One of the first is IC Places Orlando. Here is an example of how the journalistic infrastructure of the newspaper could be leveraged to provide an ad product that other web properties would have to struggle mightily to match.
Newspapers have gotten into their current pickle by being too slow to realize how serious a threat the internet is to their business model. They now have to do something — or actually, many things — differently in order to remain socially relevant and financially viable.
As the 1980’s hit announced, Video killed the radio star. Will it help save the morning paper?