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Bright future for journalism says Murdoch

In an online world, the future of journalism is more promising than ever before according to media tycoon Rupert Murdoch.

In an article written for the Wall Street Journal, Murdoch says that with many news enterprises shutting down or scaling back, some people say that journalism is in dire shape, and the triumph of digital is to blame.

However, he claims that future of the profession is limited only by editors and producers unwilling to fight for their readers and viewers, or government using its heavy hand either to over regulate or subsidise the media.

He explained that newspapers have prospered because of the trust that comes from representing their readers' interests and giving them the news that's important to them. That means covering the communities where they live, exposing government or business corruption, and standing up to the rich and powerful.

New technology now allows this on a much greater scale, reaching billions of people who until now have had no honest or independent sources of the information they need to rise in society, hold their governments accountable, and pursue their needs and dreams.

However, newspapers and news organisations that do not adapt to the digital realities of our day will fail.

Technology should not be blamed for these failures as the future of journalism belongs to the bold, and the companies that prosper will be those that find new and better ways to meet the needs of their viewers, listeners, and readers, he said.

Murdoch adds that quality content is not free and in the future, good journalism will depend on the ability of a news organisation to attract customers by providing news and information they are willing to pay for. The old business model based mainly on advertising is dead. Though online advertising is increasing, that increase is only a fraction of what is being lost with print advertising.

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