From 1989-1991, Garrick Utley moderated “Meet the Press.” His stay at the Sunday broadcast was just one moment in an incredibly rich journalism career. Fluent in French, German and Russian, Utley’s reporting as a field correspondent was remarkable. He interviewed soldiers in Vietnam, covered the Cold War from Germany and Russia and interviewed the chairman of the Palestine Liberation Organization. He was with NBC News for 30 years.
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Cable news networks and broadcast news networks have historically made money. According to CNN, MSNBC, and Fox, they are projected to make a combined $3 billion profit in 2020. The free news-streaming services would love to have a piece of that profit. Many of these services have adopted the same style and approach as their cable-like competitors. In effect, they’re telling viewers that they can cut their cable subscription but still get high-quality news.
Originally, a town crier would bellow the news from a walk in the village. But he was limited by time and distance, and his news coverage was not as comprehensive as today’s news. This limited the reach of the town crier. The newssheet was a better option, being portable and sharable. In addition, news sheets could be preserved for future reference. However, print and radio were stuck in the past, reporting yesterday’s news. Then came television, which was one step ahead of broadcast news, with live events.
While news organizations and broadcasters are trying to figure out how to survive in the future of streaming, it’s important to remember that audiences are changing. The amount of television viewers who watch cable TV has declined significantly. Despite this decline, news broadcasters have high hopes for their streaming operations. In fact, some major news networks, including Fox, have already invested hundreds of millions of dollars in their streaming operations. For example, Fox’s Fox Nation streaming app has over 1.5 million subscribers, while NBC News Now reports 31 million hours of content every month.
