While everyone else is doubling down on “local”, the Washington Post is cutting back.
Time will tell whether this strategy is a good one but it is counter to what is happening in the market.
I will tell you that I am bullish on local and we are hiring and investing as a media company in this space.
Eighty percent of consumer spending is done within 20 miles from home.
The great value creators – Google, eBay, Groupon – are all about local and small business.
Local media companies such as Regional Sports Networks create the value. Comcast basically paid ZERO for NBC. Zero. As in no value.
Cutting back on newsroom staff in Metro opens the door for many new local media companies. This is a sad state of affairs. The Post would rather send people to London and the Olympics than staff reporters in Bethesda, Maryland, or Great Falls, Virginia, or Cleveland Park in DC.
Bad move. Read this article on the Washington Post in the Washington Post. It is all downhill from here.