The Decline of Newspapers Creates a Surge in Local Startups

Here is a great way to allow students to consider two often separate elements of the business curriculum - the product life cycle and business startups…

The decline of the traditional newspaper industry seems, if anything, to be gathering pace as readers migrate online and advertisers pull their promotional budgets.

However, as the reach and influence of national, regional and local newspapers declines, a whole new opportunity has arisen for what are being called “hyperlocal” sites. These are blog-based websites which are dedicated to covering the news and issues of tightly defined local community. This piece in PaidContent describes the change well.

Some interesting comments in the You Tube videos featured on PaidContent for this story. This one in particular is full of rich business studies material:

”“It’s a very exciting time and there is a wonderful, boundless optimism, which is in sharp contrast to the traditional media. We are seeing people being driven only by a desire to make their communities better.” Perrin says many are happy to simply cover their costs and perhaps make a small profit—but he adds that some sites already are bringing in “substantial” advertising revenue.”“

Here is an example of a thriving hyperlocal website. Well worth taking a look at - perhaps there is one for your neighbourhood already? Students could be encouraged to analyse and evaluate the business viability of setting up a hyperlocal site for their area?