It's not realistic to say journalism is not viable. Even if the consumption of news has been shifting to new platforms, there is still a voracious appetite for information. That has to come from somewhere, in other words, from journalists. It doesn't just magically appear out of thin air just because it's on the internet.
Journalism presently is not viable, at least in the US. Look at the industry. NPR reported on New Year's that there are 30% less newspapers in the US than there were in 2000. During the same time period, it's estimated that 48K journalists in the US lost their jobs. In 2023, 2.5 newspapers shut down permanently each week. Fortune magazine claims that 2/3 of America's journalists lost their jobs since the 2000's.
The LA Times, as I believe I mentioned upthread, laid off 180 of their staff over the past two years, and they've been losing tens of millions of dollars a year since 2018. And they're a large and very important newspaper, with a big online presence.
If the news business were viable, none of that would be happening, especially not at that level.
One problem is that we're in an age where anyone can put up "news" on a website and call themselves a journalist. Also, the definition of journalism has altered, with gonzo-style journalism one sees in internet based sites like Vice and Raw Story -- with varying levels of usefulness. But Journalism, as a business, is in trouble.
The free news aggregators still get clicks, views, and engagement, but the industry is in big trouble, and it's not because people want to pay for news. It's apparent most of them don't.
Check out the Pew Research papers on the state of the news industry. They're free to read, and enlightening.
Obviously, there is a problem with the business model. Maybe there needs to be some sort of digital royalty for news, that pays .004 per read per story, or something like that. If it's good enough for the music industry, perhaps the news industry will need to look at something like that.
Sorry to all for our derailing the thread, but news -- as Theater Of The Mind so accurately pointed out -- is indeed important. It's that 'informed electorate' thing. The problem is the business model doesn't appear to be working. Just as the internet has changed other fields (like
Radio, TV, retail, etc.) it's also changing the way news is paid for and consumed.
Maybe it will just work itself out.