The business side of journalism

Peter Copeland, the editor of the Scripps Howard News Service, gave a speech recently at Louisiana State University about the changing world of mass communication and the need for all of us in journalism to better understand the world of business. He said, in part: “Journalists are supposed to like tough questions, but we tend to leave the business questions to others. Journalists don’t like to talk about money and they don’t really trust those who do.

“But Katrina and Rita sharpen and highlight the contradictions that shape our future: In a time of crisis, the need for information is as great as the need for food and water. Yet providing information has become a big business governed by the rules of Wall Street. In this world, the inverted pyramid is trumped by the law of supply and demand. Good video is nothing if it can’t be monetized. And the story gives way to the bottom line.”

If you want to read the entire speech, go here.