Warren Buffet has always been critical of the newspaper industry. Oen of his all the famous quotes is
every time an elderly person dies, newspapers lose a reader they will never get back
He is of the opinion that newspaper as an industry thrives on revenues from advertisements and with competition and alternative access modes of information, these revenues would fall.
According to this latest article on PSFK,
the paper’s online advertising revenue is now sufficient to cover the cost of the LA Times’s editorial team – for both print and online.
May be its time to revisit few predictions. Could Warren Buffet be proved wrong by the New Media?
P.S.: Another article by Seth Godin on future of Newspapers.