We live in a global world. The worldwide economic crash proved that beyond a doubt. But as people cultivate a more international mindset, is it time for news organizations to do the same?
It’s no secret that the traditional news organizations, especially those still rooted in print, are struggling. Actually, struggling is an understatement. Some have hemorrhaged money until they finally had to give up the good fight and shutter their doors.
Mainstream news organizations are breaking geographic boundaries to reach new readers (mostly digital subscribers), and, importantly, revenue-generating advertisers.
According to Simon Houpt, in Media Navigating a World of Dwindling Profit, Beckoning Markets, news organizations are tapping international audiences in hopes of boosting business. Media organizations like the UK’s The Guardian, which scooped the recent U.S. government surveillance scandal, and the Wall Street Journal, which has created a centralized site for Canadian-related content, are examples of an emerging trend.
Mainstream news organizations are breaking geographic boundaries to reach new readers (mostly digital subscribers), and, importantly, revenue-generating advertisers.
But, will this do more harm than good? Will a UK-based readership really care about U.S. government surveillance scandals? Will covering news from other countries in detail drive away the local subscriber base? Probably not.
“We’re dealing with an audience of people who have an international perspective. Wherever they are in the world, their interests are in line, they want to know what’s happening in China, they want to know what’s happening in Brazil, they want to hear about the financial and economic story globally,” Rob Grimshaw, Manager of FT.com, was quoted as saying in Houpt’s article.
It may be too early to see how media without borders will affect the limping news industry. But more subscribers, no matter where they live, certainly can’t hurt.