Wednesday, August 07, 2013

Reflections of a Newsosaur: Digital doctor Bezos takes on the ailing Post

Reflections of a Newsosaur: Digital doctor Bezos takes on the ailing Post

"The purchase of the struggling Washington Post by Jeff Bezos may be the best news the news industry has had in a long time, because it finally puts a true digital native at the helm of a newspaper company. 

Bezos, the billionaire founder of Amazon.Com, is uniquely equipped to bring unprecedented innovation and fresh energy to an industry whose managers run their businesses like the people of Cuba treat their 1953 Plymouths: tinkering with them just enough to keep them running. "

While the people in Cuba unfortunately have no other options, the newspaper industry has been sputtering toward irrelevance for the better part of a decade because editors and publishers either don’t like or don’t get digital publishing. Perhaps, it’s a bit of both. 

Either way, Bezos, who is paying $250 million of his own money to buy the newspaper from the heirs of the man who purchased it out bankruptcy in 1933, now has the opportunity to show publishers how to do digital. And it’s a safe bet he will grab it.  

With a personal fortune topping $25 billion, Bezos has the demonstrated means, insight and patience to re-envision the business model of an industry that has lost more than half of its primary revenue stream since advertising sales peaked at $49.4 billion in 2005. 

'via Blog this'

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