Social Media Blog: Newspapers will find ways to make money says Google Chief Schmidt

Google's CEO says newspapers will find a new way to make money. Not everyone agrees. We all know what's happening with the newspapers. They are losing advertisers and circulation has dropped year over year. So many journalists are out of work and are trying to find a new career for themselves. 

Along with Google, social networks like Facebook, popular blog sites, and others are taking the lions' share of advertising dollars that used to be spent on newspaper and magazine advertisement.

Google's CEO (at the annual American Society of News Editors conference) said that "newspapers are vital to democracy". I agree to that statement totally. I also feel that the pleasure of sitting at the kitchen table on Sundays with the papers cannot be replaced by sitting in front of the computer reading the online news. It's just not the same.

But what I don't see is how newspapers can revive themselves with the popularity of online media and the continued migration of more and more advertising dollars from print to digital media. Google's CEO thinks there will be a way for newspapers to survive with a new business model.

For the sake of my journalist friends and peers I hope that someone figures out a way to do so soon.

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