Oracle meets the Maverick

Warren Buffet and Mark Cuban are on gthe same page, when it comes to the newspaper business.

Both think the newspaper business has seen it's best days. Buffet, often referred to as The Oracle of Omaha,  is the Founder  of Berkshire Hathaway.

"I’d put GM and newspapers in the “Too Hard” pile. Newspapers face the
prospect of seeing their earnings erode
indefinitely. It’s unlikely that at most papers, circulation or
ad pages will be larger in five years than they are now."says Buffet.

That's because media conssumers have almost unlimited choice, in how
they consume the product and services.They get alot of it for 'Free' , or without shelling out for a subscription. Without subscribers newspapers loose the royalty stream of ad revenue.


Cuban is the provocative owner of the Dallas Mavericks, a leading edge proponet of new media, particuarily High Defition Television.   Cuban says newspapers are irrelevent to young people, who consume their information electrronically. The newspaper industry hasn't  figured out how to reach them. If you aren't reaching your future market, your futre is not very bright.

What the so called mainsream media really doesn't get, yet, is technology has replaced them as gate keepers. It's my news not theirs, now. My newspaper needs to create a mechanism that allows me to create my paper, at least electronically.   I cherry pick the writers I want to read.

They monetize that by selling advertisers on syndication, not subscription, and by contextual advertising around the content.  When I'm reading about travel; hit me with the travel sale or promotion. sell the ad, make money, create the promotion, create more, facilitiate the sale, create some more. Don't worry about the money boys and girls, work with  the audience and the content. If its rellevant ' they will not only come and buy, they'll create media that  you can syndicate and the cost of acquisition of that is peanuts!