I constantly hear newspaper executives fret, “How am I going to get enough money to support my newsroom.” I did an interview about TV the other day and one of the questions was, “How are networks and producers going to get enough money to make the shows the make?”
In what business can you start your calculations with the bottom line you want to have: ‘I need to make this much money’? Doesn’t every sane business (that is new and hopeful or healthy and growing) start, instead, by saying, ‘This is my product, this is what customers are willing to pay in the marketplace, this is what it is worth, so that’s what I’ll make’?
That is the problem with threatened media businesses: They continue to concentrate on preserving their pasts, on the revenue they used to make as monopolies and megaliths in the age of big, and not on the products they create and the value they bring their customers in a new and competitive marketplace.
I wouldn’t bet stock on guys who look at their businesses from the wrong end.