In some markets, this could be as quickly as in the next five years. In others, it could take up to 15 years.
The second message is good news. If you are prepared to overhaul your business radically, to accept that the opportunity to make profits in the new digital world is greater than the losses you will incur by relinquishing your traditional ways over time, then there is a good chance you will retain many of your derived profits in the long term.
Newspapers have a range of outstanding competitive advantages – local branding, strong readership across most generations, contact with traders, reliable reputation, strong marketing capability, in-house resources, in-house sales, content management skills and technology – which remain the envy of all competitors, old and new.