Cutting Costs – Changing By Necessity

The business model of journalism is changing.

That’s not new information – but it’s a on-going conversation on just what TV stations, radio and newspaper outlets will become.

What’s for sure is that gatekeepers are slashing budgets by necessity. And more cost-cutting measures (read: layoffs) are inevitable.

TV Newsday’s Sid Guel penned “Eight Ways Stations Can Save — Eventually – it’s a good read.

But what isn’t addressed by Guel’s list of cost-saving technology and production techniques is how such measures will fly in union environments – many of which keep bodies behind cameras and other equipment.

The larger question for media is whether to change now or change later – changing later is more expensive I believe – might as well cut the cancer out now and get it early, rather than doing emergency surgery on the fly.

Revolutionary innovation can keep media thriving – but failure to see the vision and adjust early on – threatens long-term viability.

There are countless examples of companies who fail to adjust to obvious industry trends – and suffer horribly because of it, either by losing market share to rivals or going out of business altogether.

So again, I ask the question, are you an asset or a liability to your business? Are you hanging on, not wanting to learn new things – or are you striving to construct the new way of operations that’s going to keep your industry alive?