The best time to start a business is in a poor economy, I once heard artist Josh Simpson say in a question and answer session.
That’s another reason why now is the time for television stations and production companies to take news coverage to a new level.
As I wrote in the previous post, TV outlets and companies should use this media shift lull to break the news.
Part of the reason newspapers are closing is due to the economy. But the other factor is consumer want. More consumers get their news online compared to those who get their news from physical newspapers. But, more people are still getting their news via TV.
Yes, you agree, it’s common knowledge. But, you say, the same thing can happen to TV. Yes it can, and more consumers will resort to technical gizmos and gadgets with an Internet connection.
If TVs physically fade out, people will still want to watch these programs just as people still want to read feature length articles online. (The demise of the TV is real and is due to copyright infringes and recording technologies like TiVo. This is a whole other issue video makers and watchers will have to worry about.)
A large problem with newspapers going out of business, is the fact there won’t be enough hard-hitting journalists in the world. I’m not saying TV or video journalists aren’t hard-hitting, but let’s get real, the glitz and glam is taking up too much space. As I previously wrote, the void needs to be filled. People need the facts, and they need the news, whether they know it or not.
Simpson’s theory to start a business now is based on his belief that if someone knows how to make a business work in tough times, it will certainly work in easier times.
Apply this to the TV industry. In order for this approach to work, companies should be investing the money they have in quality journalism, documentary series, mini-documentaries, feature reports, investigations, and interview programming.
When consumers no longer have a physical paper, they will be looking towards television for their news. TV outlets need to provide this kind of programming.