The Internet is kicking journalists in the ass. Back when the computers, and to a lesser extent, the Internet were for productive activity, the traditional journalist, along with their publications, comprised a bottleneck for information. Most people turned to them for it. The social nature of computing and Internet use has changed that.
The democratization of information brought about by the ease of transmitting anything and everything has taken away the advantage journalists and publishers had. Information is cheaper to obtain which drives down its cost and leaves journalists and other writers making less money.
Combine that with a readership that, although it has access to tons of information, prefers a fast food, heavy on fun and fat diet of information, writers find their skills for analytic, deep thought in less demand.
In order for writers to optimize their incomes, they will have to do two things. One, become a subject matter expert. Competing as a generalist against millions of untrained generalists blogging nonsense and gossip is a losing battle. Being a subject matter expert increases the writers value.
Second, writers will have to make their content exclusive in order to drive up the value of their expertise. More book writing and more pay walls for packaging and distributing their content. Information, real information, may become more expensive, but its value will be placed back at its proper level.