25
Sep 12

Funding journalism: not before a sharp, painful squeeze

Nick Clegg, the Liberal Democrat leader, sinking in the polls and suffering the media persecution which goes with that, thinks that newspapers won’t be around when his children are grown up. He implies that because printed papers might vanish, journalists of the future won’t pick apart the performance of politicians. Or at least they’ll be nicer when doing it.

Less naive, but nevertheless mistaken is the idea floated by David Leigh of The Guardian (declaration: he’s also a colleague at City University) that the financial problems of newspapers could be solved by a £2 a month levy taken from internet service providers (ISPs). Journalism has always been cross-subsidised, so it’s the right question. But the wrong answer.

Taken together these fragments of the debate about what’s happening to journalism show that a stark idea, long discussed by those who study this stuff, has now gone mainstream. Change in newspapers will be transformative and not just adaptive. And it’s coming very soon.

Take a quick look at the recent print circulation figures of the five serious national dailies (FT, Times, Guardian, Telegraph, Independent). Taking the figures from June 2011 to June 2012 (i.e. excluding Olympic effects) year-on-year falls range between 8.52% (Telegraph) and 44.62% (Independent). Take the Independent out of the equation on the assumption that the figure is distorted by some statistical manoevre and the bracket is from 8.52% to 17.75% (Guardian). Now imagine the effect of those numbers on print advertisers (still probably at least two thirds of the income of these papers) and speculate about the tone and type of discussions that are going on inside the offices.

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