He's talking about magazines and newspapers but...
...he's right about book publishing too. Bob Guccione, Jr. that is. Via HuffPo.
The future of media will boil down to, and pivot on the axis of, one thing: imagination—how creative we are in exploiting technology and, equally important, with content. The future will not be a war between new media and traditional media, but between obsolescence and vision. In that sense, it will be far more apocalyptic and transformative than just a bunch of old-line companies going away.That does not mean that print has nothing to worry about. It has, quite literally, everything to worry about: from the expense of its materials, workforce and delivery, to loss of revenues and the erosion of its dominance as a source of information. But the print medium can fix that set of problems. "Can" is the operative word.
Too often publishing executives complain about their ill fortunes rather then set about the necessary reconstruction, like depressed home owners shocked to discover their homes are not impervious to nature and weather. Newspapers have to change, because they've become anachronistic. Magazines are going through a natural (and I personally think very useful, if we're smart enough to learn from this) market correction, as Wall Street likes to call the periods when the floor gives out from under them.