NYT editor predicts almost all newspapers will die in 5 years

Most local newspapers in America will die in the next five years, according to a prediction by New York Times executive editor Dean Baquet. Speaking at the International News Media Association World Congress, Baquet talked about the future of journalism and the market failure the industry finds itself.

The greatest crisis in American journalism is the death of local news . . . I don’t know what the answer is. Their economic model is gone. I think most local newspapers in America are going to die in the next five years, except for the ones that have been bought by a local billionaire.

This prediction falls in line with a recent Pew Research report that found most Americans are unaware of the local news crisis. It found most Americans do not pay for local news subscriptions but believe local news organizations are doing well financially.

With local news outlets shutting down across the country, the industry can’t bank on wealthy donors buying outlets in order to stay afloat.

“I don’t know what the model is for covering the school boards in Newark, New Jersey,” Baquet said. “That makes me nervous. And despite the fact that there are some rich people championing media, there is no way the entire industry can rely on the kindness of deep-pocketed strangers.”