Traditional media continues to atrophy, but the need for content has not. If anything, there is a greater need for content than there has ever been. Columnists talk about the death of newspapers, but we are all reading more text, viewing more images and watching more video; we just happen to be doing more of it online. Talk to anyone under the age of 30, and chances are that they read few, if any, print publications.
It has become harder to make a living as a photographer, but easier to sell photographs. Online distribution has made media more easily available, but more media now sell at commodity prices. Photographers are no longer paid simply to make a technically competent photograph. Kodak roll cartridge film and Polaroid instant film popularized photography, but it is digital photography that has put the skills of making and developing properly-exposed photographs into many more amateur hands. That has caused deep concern among many aspiring professionals, who find themselves in an arms race with affluent consumers to buy more and more expensive equipment. The price of stock photographs has been driven down to the cellar; microstock photos sometimes sell for as little as a few dollars, or even a couple of dimes. Robert Lam got $30 for a Time magazine cover photo.