The fifth annual State of the News Media report from the Project for Excellence in Journalism was released this morning. While its examination is of U.S. print, broadcast and online news, there are implications worldwide of its findings.
It's a long read and it's early to divine the conclusions, but the first message you take away is that the crisis in journalism isn't necessarily the loss of audience but the uncoupling of news and advertising as media migrate into a digital model.
The traditional media are actually more dominant in the online space than they have been in so-called legacy media. But advertising isn't following.
The good news: Newsrooms are innovating.
The not-so-good news: The paid search function online isn't a priority for news sites, and that's where the money is.