Schmidt a fitting keynote for newspaper convention (Google killed newspapers)

""All of us now live in this mixed world of user-generated content and professional content," Schmidt said.

"The one-to-many media model that newspapers were born into has been in a stage of deepening discredit for some time. Newspapers get that. What they don't get is how to make money off their expensive-to-produce content in the always-on era.

"For Schmidt, the answer is still advertising. Admitting he has a bias (given that Google's revenue is 98 percent ad-driven), Schmidt nonetheless held out hope that newspapers could do a better job of tapping into their data about what types of stories readers are interested in to serve more relevant ads. Sound familiar? It should -- that same data has been the cow that keeps on milking for Google."

""All of us now live in this mixed world of user-generated content and professional content," Schmidt said.

"The one-to-many media model that newspapers were born into has been in a stage of deepening discredit for some time. Newspapers get that. What they don't get is how to make money off their expensive-to-produce content in the always-on era.

"For Schmidt, the answer is still advertising. Admitting he has a bias (given that Google's revenue is 98 percent ad-driven), Schmidt nonetheless held out hope that newspapers could do a better job of tapping into their data about what types of stories readers are interested in to serve more relevant ads. Sound familiar? It should -- that same data has been the cow that keeps on milking for Google."

Complete Story

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