Too big to fail: FT editor Lionel Barber on the future of financial journalism

Lionel Barber:

And finally let’s look at the growth of PR compared to the decline of newsrooms.

According to the US Bureau of Labor Statistics, in 2000 there were 65,900 news reporters and 128,600 public relations people.

In 2015: 45,800 news reporters, and 218,000 public relations people

So, 15 years ago, there were two PR people for every reporter in the country. Now there are 4.8 PR people for every reporter.

David Simon, former Baltimore Sun staffer and creator of the HBO series The Wire offered his own perspective on the stats. “This is how a republic dies. Not with a bang, but a reprinted press release.”