For newspapers, 2010 was comparatively calm after the hair-raising revenue dips of 2008 and 2009. That was cold comfort, however, to an industry still laboring to find a sustainable business model for the future.
As the economy improved in 2010, network broadcast news quietly went through an arduous period of change. The news division of one network, ABC, instituted sharp personnel cuts designed to accomplish a “fundamental transformation” in the way network news is produced.1 Another, CBS News, worked its way from financial losses back to break-even, while management continued to strengthen a depleted bench of correspondents and news producers. NBC prepared for new owners, the third such transition since NBC was founded in 1926, and if history is a guide, the change will alter the network more than most pre-sale analyses predicted.
Two paths diverging would be one way of putting it. A glance at the finances of cable news in 2010 would leave one feeling outright bullish. All three major news channels were projected to have increases in operating profits — Fox News by 27%, CNN (and HLN) by 7% and MSNBC by 8%, according to the market research firm SNL Kagan.1
After a couple of difficult years, finally there was some good news for local television. Thanks to the economic recovery and a busy election year, revenues rose sharply in 2010. As more stations continued to add newscasts in new time slots, the overall audience for local TV news actually held steady and new delivery platforms, including mobile, raised hope for the future.
Traditional AM and FM radio still dominates the audio landscape, and for the last decade it has been among the most stable traditional media. But heading into 2011 there are growing signals that raise questions about its future.
The African American media in 2010 mirrored the kinds of challenges and changes that mainstream news organizations also faced. Most African American media outlets either began or planned to upgrade their digital enterprises in an effort to reach new audiences. But beyond that, it was a mixed year for the sector.
Fire and fallout at a Japanese nuclear plant made the aftermath of the disastrous earthquake one of the biggest stories recorded by PEJ in the past four years. But by the end of the week, U.S. military action in Libya surpassed every other event, including Japan, in the news agenda.
