The Supply and Demand Dilemma in Modern News Coverage
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The News Supply and Demand Conundrum
As supply chain disruptions affect American purchasing habits across various sectors, including technology and pet supplies, it's an opportune moment to reflect: How much news is truly sufficient? This question highlights the significant gap between news producers and consumers. On one end, journalists argue that there can never be an excess of news. Conversely, many consumers express frustration over the difficulty in accessing credible news. While not all share this sentiment, those indifferent to news are often the most disengaged.
This prompts a deeper inquiry: Could the actual issue lie not in supply but in demand? To put it bluntly, is there a lack of interest in news among the American populace? If so, does that mean any existing supply may be deemed excessive?
Let's take a moment for news professionals to digest this notion (a brief breath into a paper bag might help).
The Fundamental Concern
Numerous surveys indicate that apathy often overshadows distrust in how Americans perceive news today. This raises the question: Can genuine news deserts exist? It's a valid concern, especially since reports highlighting the decline in newspapers and journalists typically emphasize how reduced news coverage results in lower voter engagement and heightened corruption. However, they often neglect to include perspectives from everyday citizens on how dwindling news availability affects their lives or whether they've even noticed this decline. Has anyone thought to inquire? Or are they apprehensive about what the responses might reveal?
In this vast divide, it can feel quite isolating.
Traditional media outlets are stretching their resources thin. Yet, which industry today can confidently claim it has sufficient staff and funding? The promise that technology would liberate us by reducing the need for various roles has not materialized. While we indeed need a robust media landscape to uphold democratic ideals, it becomes challenging when what we truly require is a reliable plumber.
Empowering the Audience
John and Mary Q. Public are crucial for sustaining the media industry. In other sectors, they would be regarded as "customers." However, in the realm of journalism, they are frequently overlooked and dismissed as non-experts lacking understanding of the news ecosystem. Consequently, media outlets often turn to consultants rather than the public to learn how to better serve them. Odd, isn't it?
This scenario is particularly perplexing, given that the news ecosystem is undeniably flawed. A brief overview: National news organizations depend on local journalism to provide relatable context to issues and identify communities most affected by national policies. Without reliable local reporting, national outlets may struggle to deliver accurate coverage (as evidenced by recent election reporting). Furthermore, local news environments are where journalists hone their skills, such as sourcing experts and verifying information. Experience in smaller markets typically serves as a foundation for careers in larger ones and eventually national news. This ecosystem has faltered due to the collapse of the advertising-based business model in journalism.
Those studying the news ecosystem assert that news deserts are a reality. Other industries might term this a "rightsizing" event, considering the economic pressures on the news industry. Yet, discussions of news deserts persist. Are they factual, or merely illusions stemming from nostalgia for a bygone era?
A Local Perspective
In Long Island, we actually possess more media outlets than many regions with double the population. Specifically, there are over 165 weekly newspapers, one daily newspaper, one business publication, one 24-hour cable channel, around 18 commercial radio stations, two NPR affiliates, and one PBS station. Long Island stands as its own radio market, ranked 19th among the 306 radio markets in the U.S., while also benefitting from services provided by New York City stations like WCBS Newsradio 880 and 1010WINS. It also falls within the 21st television market, serviced by major networks including CBS, NBC, FOX, ABC, and PIX11. Digital-only news platforms are also on the rise. While this overview doesn’t encapsulate everything, it provides a snapshot of the current landscape. Surprised by these statistics? Many are.
However, the existence of media outlets does not guarantee they produce quality news. Why is this the case? Is it due to resource limitations or a lack of demand? These are just a few inquiries stemming from an area often labeled as another news desert.
This informative video, "Supply and Demand in 8 Minutes," succinctly illustrates the fundamental principles of supply and demand, which can also be applied to the news industry.
Another insightful video titled "Supply and Demand (and Equilibrium Price & Quantity) - Intro to Microeconomics" explores the concepts of supply and demand, providing valuable context for understanding these dynamics in the media landscape.
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