On March 11th, Charlie Rose televised his interview with Tina Brown (co-founder and editor-in-chief) of The Daily Beast.  I've written previous blog posts about Tina Brown because she's a savvy online publisher.  Rose asked Brown about the future of newspapers in an online world.  Their discussion takes place during the 17:20 to 21:45 segments of the video.

Here are some interesting points from their discussion:

Can Professional Journalism Be Saved? No One Knows Yet.  Paying talented writers well is a challenge because most online content is free.  Brown said The Daily Beast pays its contributing writers but "they're not going to get rich from what we pay."  When Rose asked her for the solution, she said the newspaper industry is "still trying to figure that out."

Paid Content Models Are Coming.  Brown thinks one potential solution is a pay-for-content-model resembling what we see in cable television's premium channel market (i.e., think ESPN or HBO).  The New York Times already signaled its intent to implement an online pay site next year.  I've been a loyal subscriber to The Wall Street Journal Online ever since its launch.  In addition, I pay a monthly fee to receive WSJ content on my iPhone.  The only time I ever read a WSJ print version is when I conduct business travel because my hotel usually provides guests a free copy. 

"We're in a Volatile Moment of Absolute Realignment."  This is how Brown described the newspaper industry's current state.  An industry shakeout is already occurring because traditional print costs (i.e., printing press facilities, trucks for distribution, etc.) cannot compete long term with the lower costs of digital operations.  Brown is convinced that news will move completely online. To her, the speed and reach of digital media is a significant competitive advantage over the print model.

Brown Is Not Alone in Her Opinions Regarding an Old Media Shakedown.  Check out this TechCrunch article from March 12th titled, It's Hard to Watch the Newsosaurs Turn a Blind Eye To Their Own Extinction.  It talks about the newspaper industry's current reluctance to make the complete jump to digital because of the $30 billion in revenues it currently generates.  The article makes a compelling case about how digital media's impact will be even more painful if traditional print media companies continue and to try and postpone the inevitable.  Marc Andreesen, the former Netscape founder, gives his opinion in a March 6th Tech Crunch article on why print media should shift their efforts to pure digital.  The article's title, Andreesen's Advice to Old Media: "Burn the Boats", says it all.