From Rogue Columnist on the failure of newspapers

Money quote: Industry leaders were singularly cavalier about their loyal customers, while chasing ones they had little chance to attracting.

This has been seen in politics, media, and a whole host of organisations that operate on the presumption of loyalty to the idea of the organisation.  The reality is much less idealistic, and a lot more opportunistic - the customer is loyal to the company because that company provides value to them through their products.  Take away what drives the loyalty, and you’ll lose the customer and the company.