Closer look: Media companies' ticket to survival

Predictions about the death of traditional media are again being heard after another newspaper closed in Shanghai, but I am not that pessimistic.

Indeed, the development of Internet – especially the mobile Internet – has significantly changed the way people read. Nowadays, people use tablets and smartphones to browse the news anytime, anywhere. They do this instead of buying magazines or newspapers and reading them over a long period of time.

Meanwhile, new media platforms, led by weibo, China's version of Twitter, are changing the way the news is produced and spread.

But people still long for news and the facts. Even as there has been an explosion in the amount of information available, readers still need access to objective and serious reports. Not every individual is capable and can afford producing such reports. Therefore, we still need professional journalists. Meanwhile, those who use the media for personal gain and to produce low-quality reports by simply copying and pasting other people's work – a common practice in China – will be forced out of the game.

The value of the Internet is not only in the new functions it offers. The way it has broken information monopolies and created more room in the market for smaller powers has been revolutionary.

Of course, high-quality content is not enough. As consumers gain more choices, media outlets should provide good content and formats that meet the needs of their readers. The essence of the Internet is to shorten the time between production and consumption while emphasizing the user's experience.

Jingdong Mall chief executive Liu Qiangdong said there is no ticket for media companies on Noah's Ark.

Both the Internet and the media industry are, indeed, evolving, and so are the demands and habits of their customers. News outlets will only reach dry land by consistently improving the experience of readers. The most crucial aspect of that is pursuing better content and formats.