The News Media Industry

Abstract

Abstract : American news media has two fundamental roles in our democracy: that of eyewitness, giving citizens critical information, and also as the watchdog, providing another arm of checks and balances within our governmental system. A central feature of the news media industry is the inherent tension between providing a public service and making a profit. This tension has had an effect on the current condition of the news media, characterized by the following eight trend areas: attitudes toward the news, news consumption, interest in international news, consolidation, government deregulation, coverage of national security issues, infotainment, and the digital revolution. In general, the financial pressures associated with consolidation and deregulation have been detrimental to the quality of news coverage and cost the news media a certain amount of credibility. However, there have also been successes, such as the recent experiment with embedded reporting during Operation IRAQI FREEDOM. In the long term, technological developments, such as the ability of individuals to tailor the news they receive and pull that information on demand, will powerfully affect the profitability of the news business. For the present, the delicate balance between journalistic excellence and financial profitability, though sometimes shaky, continues to be the hallmark of the American media, making it the most successful and objective in existence today.