Going, going….

Summary of Findings: Internet Overtakes Newspapers As News Outlet.

Currently, 40% say they get most of their news about national and international issues from the internet, up from just 24% in September 2007. For the first time in a Pew survey, more people say they rely mostly on the internet for news than cite newspapers (35%). Television continues to be cited most frequently as a main source for national and international news, at 70%.

For young people, however, the internet now rivals television as a main source of national and international news. Nearly six-in-ten Americans younger than 30 (59%) say they get most of their national and international news online; an identical percentage cites television. In September 2007, twice as many young people said they relied mostly on television for news than mentioned the internet (68% vs. 34%).

[Figures add to more than 100% because multiple responses were allowed.]

In an ideal ‘capitalist’ world, these trends would cause newspapers to assess why they are losing readers and to adjust strategies to win them back. Newspapers seem to be doing just the opposite, though, and their eventual exit from the marketplace of ideas will be well-deserved.

TV will soon follow. Overall, it still leads the internet, but look at those trends. Also look at the demographics. Among consumers younger than 30, TV and the internet are tied. All those twenty-somethings will get older though, and take their internet viewing habits with them…while passing them on to their children.

What’s great about the internet is that it’s competitive. Sure the NYT will have a website and eventually transition online to follow the trends. But they’ll then be competing with MILLIONS of other sources which are just a click away. There’s nowhere near that level of competition in print media today. And as we all know, competition means no resting on laurels for competitors. It means staying fresh and new and attractive. It means being forced to produce a product that people want to buy. Cheaper, stronger, faster. All this benefits the consumer.

Enjoy the ride.