Ignore the Spin: The New York Times is Crushing the Wall Street Journal
Online Dominance: The New York Times has roughly two and a half times more readers than the Wall Street Journal
It’s kinda touching that Rupert Murdoch’s loyal lieutenants are trying to entertain the boss by starting an old-fashioned newspaper war (old-fashioned modifies newspaper). But it’s also ever-more revealing of their worldview.
And of course, the best way to declare a war is to declare it over and claim victory. “Nationally, there’s no contest now,” Robert Thompson, editor of the Wall Street Journal, said, according to the AP, “We’re more than twice as big as The New York Times. They’re not a serious competitor.” The AP goes on to tell us that the “Journal sold an average of about 2 million copies nationwide on weekends compared with the Times’ 900,000.”
OK, but that’s half the story. It’s more like 10 percent of the story. For now shift to the future, the web, and comScore tells us that in July, The Times reached 43.6 million people online vs. the Journal’s 16.1 million. By the time you add in pass-around readers for the paper and de-dupe the same readers for print and online, those numbers might change, but the moral to the story doesn’t.
The New York Times has roughly two and a half times more readers than the Journal. That translates to two and a half times more influence, two and a half times more relationships, a two-and-a-half-time bigger brand.
Murdoch has been willing to lose tens of millions of dollars on his New York Post for one reason: he wants a “bully pulpit” (his words.) He has certainly turned FoxNews into just that. So its kind of sad, if you’re feeling empathetic, that his Journal is losing so to The Times. That’s why Thompson doth protest too much.
That is the price of the pay wall. It may be a price worth paying. The New York Times is, of course, piling up bricks for its wall now. But off in the open field, no bricks in sight, stands Guardian editor Alan Rusbridger with 37 million readers online wondering whether he could soon run the largest newspaper site in the world.
Now I argue these days that brands are no longer magnets; they become labels when you find content through search, algorithms, and peers’ links. Murdoch cut off the algorithms when he pulled his Times of London out of Google News just as he put it behind the wall. That was not a business decision but an emotional one. But I’m even willing to stipulate that his pay wall could work – work in the sense that he gets satisfactory revenue (whatever the definition of that is) from readers rather than from advertisers.
But the real price is growth. It won’t grow. I see that not as victory in the war for the biggest bully pulpit – for the bragging rights to talking to more people. I see that as surrender.
Cross posted at buzzmachine.com
Photo by Robert Scoble
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