Why media outlets need to adapt to the times

We all know journalism has been in turmoil the last few years due to the rise of digital media outlets (ahem ahem) and falling circulation numbers. So what to do? I came across a great short essay on the rapid change in media and the importance "to think about what's the right form for the right medium at the right time." Check out this Nieman Report article by Richard Gingras, head of news products at Google. He's got some valuable things to stay on the transition media outlets need to take. Am curious what you think about his views, do you agree/disagree?