1) To put all those tiny little papercuts into perspective; each round of newspaper layoffs, here and there, equals one big gushing head wound:
“We estimate that the newspaper industry has lost $1.6 billion in annual reporting and editing capacity since 2000, or roughly 30 percent, which leaves an extra $4.4 billion remaining. Even if the economy improves, we predict more cuts in 2010.”
2) Today’s brave new media ventures are rowboats struggling against the rushing tide of lost journalistic capital. The following statistic only underscores how important it is to critically examine the short- and long-term prospects of many new media ventures funded by foundations and individual donors. How long will their charity be sustainable?
“$141 million of nonprofit money has flowed into new media efforts over the last four years (not including public broadcasting). That is less than one-tenth of the losses in newspaper resources alone.”
