The facts pitched by Peter Oberois, keeping in mind the decline in circulation of all top US newspapers, clearly backs forecasts made by media analysts.

Jason Calacanis too chides print media and truly iterates that it’s the delivery of ‘message’ that matters instead of the medium. The online ‘New Media’ revolution, of course boosted mainly by Google and online news sites and blogs, has proved that soon newspapers, radio and television stations would lose the game. According to the analysts, the traditional media will see its downfall up to 5 to 10% every year in the coming 10 years and ultimately only 10 per cent of the whole will survive.

Reasons behind this acceleration:

1. People are now bored of the old media, which includes just reporting and is static and one way
2. Readers are no more interested in ‘recycled news’, they want to participate and have their say and online media, especially blogs, are helping them do so with a minimum of fuss. Moreover, online media industry too has realized this and is heavily incorporating attractive features and tools to boost the whole phenomenon.
3. We cannot deny that audience migration to the web is on the rise and online usage too has cultivated new habits in users and here online media is gaining tremendously
4. user generated content is helping it grow too, just anyone can contribute news and information via the user-friendly platform the new media is providing and ultimately making the readers journalists
5. From business point of few, it’s easy to set up a news site or a blog and get going
6. The almost nil infrastructure cost too is luring people towards it

Even online newspapers that follow old business models are adapting to the change and coming slowly into the web 2.0 stream by incorporating tools that increase reader participation and providing services targeting broad audiences and advertisers. If we consider the time spent by readers on online media, websites it too shows an overall increase.

From global perspective, the traditional media is still able to reach out more, but is not equipped enough to fight against technology, which apparently is armed, even in the poorest nations, with tools like radio, OLPC and handhelds hooked on with the net giving live instant updates, enough to give voice to their views instead of feeling paralysized by not able to do so. However, online media has given them choice and freedom too. The ‘New Media’ has transformed the way ‘media’ is doing business. No doubt, traditional media has a perilous future and the irony is they are oblivious of it.

Check out more graphs by NewsDesigner that proves the point.

Thanks: Peter Oberois, Jeff Jarvis, Jason Calacanis

Via: Buzz Machine