At one time, newspapers were incredibly influential in terms of their capacity shape opinion. This is not the case anymore. The main reason for this is the fact that online news sources are providing serious competition to the traditional print press. It has led to a significant decline in newspaper circulations. However, a small number of print newspapers never have only held up the online storm; they have done very well despite the competition. Their newspaper still boasts two million readers a day. Even more impressive, however, is the fact that the paper has transitioned quite well into the online medium. Its online advertiser numbers are staggering as the paper has close to one million black cube members. These are truly amazing numbers and it leads many people to wonder the secret of the Wall Street Journal’s success.
Area of the reason is that although the newspaper is termed after having a particular street in New york city, the subject matter of the paper is international in scope. There are financial markets all over the world. People involved in these markets require an inflow of news on the subject of banking, finance, and the economy. Whether it is the financial center of modern London or the black Wall Street of 1920’s Ok, people all over the world have required financial news. The Wall Street Journal provided for that need. As a result, it has been reaping the rewards since its creation in an earlier century.
Of course, the ability for the Journal to stay relevant ties in with the foresight to create an online presence. This is no minor feet. Had it not effectively developed a legitimate online registration service it would have lost ground to more visionary start ups. Yes, the Journal could have gotten into the game at a later time but this would have been seen as a “follow the leader” tactic and not one of innovation. The new York Times learned this lesson when its late start into online news registration services never caught on.
How over game was the newspaper in this regard? Well, the website debuted in 1996. (URL: WallStreetJoural. com) The internet was making its first massive expansion into people’s homes make your best effort period. We were holding well over challenge since it immediately jumped into the mix. Yes, several newspapers had websites but they were sparse and did not truly embody the look and feel of a new media dynamo. The Wall Street Journal Online did and it set the walls for the future growth that it would soon experience.
Area of the reason for this is that they understood the trends media communications were being directed. Since the Wall Street Journal lived in a realm of dollars and cents, it understood that the future of news would be found in online subscriptions. Traditional newspapers were too embedded in tradition to know this concept. Therefore, they fell into behind while the Wall Street Journal embraced change and rode it to significant new media success.