The New York Times, Washington Post, and the Wall Street Journal will find a way to survive, but it’s no secret local news has had a rough ride over the past two decades. Newspapers aren’t what they used to be. Some even say they are dead.
There have been a number of startups try to bridge the local news gap, largely to no avail. Outside.in and Patch got the closest. Blockfeed in NYC is the one I wrote about most recently. Turns out, making money from hyper local news is pretty damn hard — since no one is intent on purchasing anything. (making money from ANY type of news is hard, for that matter).
Real estate has a business model that could support some degree of local journalism — and a vested interest in getting in front of home owners.
We know hyper local can work in attracting audience (see West Seattle Blog). We also know it takes months/years to see the fruits of your investment.
The long game.
Why more in the real estate community aren’t playing is something I still struggle to understand.