Isn’t it obvious that online media would overtake print media? Wasn’t it a forgone conclusion from the moment that Tim Berners-Lee invented the Web that Newsweek (the print edition) would be supplanted?
It certainty seems so to me. From my point of view, of course Drudge Report took Newsweek’s readers and advertisers. And if Drudge hadn’t, another online media platform would have.
As AG noted, the market for newspapers was a brutal and competitive market. That market was an information processing machine, cycling through business models and exploring unknown reader demand curves to eek out whatever profit could be found.
But then the web was invented, and we see an explosion in the market reach of media producers combined with a lowering of costs in producing media right down to “pocket change”, as this very blog’s existence is proof of. The print media’s information processing machine was immediately out-classed by the online media’s information processing machine in every meaningful respect. More business models, more content, more readers, more advertisers great and small.
As far as I’m concerned, the only question is when print products achieve the same sort of museum quality that we now reserve for illuminated manuscripts or telegraph machines, not if. Online media has more experiments and more failures, more quickly launched and more quickly gone. The online information-processing juggernaut is both broader in scope and faster in execution than anything print can muster, as a basic property of its technological medium.