A McKinsey consultant told Forbes Executive Editor Paul Maidment
... that the future for serious newspapers wouldn't be to sell hundreds of thousands of copies for 50 cents each but to have their journalists talking on the phone to readers for $500 an hour ...
but this was about 'a decade or so ago' and so he remarks on Forbes.com 22. February, 2005:
"This reductio ad absurdum of personalization sounded nuts at the time" and under the heading Stopping The Press he explains his view about, what it means for News business when The New York Times Co. and Dow Jones place a billion-dollar bet on the Internet?
(He refers to that 519 mio USD from Dow Jones & marketwatch.com and 410 mio USD from NYT & About.com)
And how does McKinsey old statement sounds in todays world? It sounds great to me! But why the hell on the phone?
Kim Young-Ok editor made more than 20.000 USD in just two days tipping (according to OhmyNews) donated from his beloved readers on OhmyNews Online ...
What the McKinsey people think today about a promising role of TV, Print & Internet business? Rupert Murdoch has just asked (again) McKinsey to advice his group to make the changes needed.
So we can either wait and see what the News Corp. (and others) are doing, or go ahead and start adapting to our "clients" evidently changing behavior, needs and wants now!