Nothing that has a fundamental demand ever dies. There is shakeup and the system will find a new equilibrium. During the last decade the emphasis was on distribution and discoverability, perils of extreme of which is now being realized. As a result the scale is slowly tilting towards creation and that is why more and more online newspapers ( atleast in the US ) are moving towards subscription model.
Even common man has started to develop a distrust towards viral news ( Viral Sach yaa jhooth ) and soon they would look out for news from reliable branded sources ignoring the posts in facebook/whatsapp and there would arrive an inflection point when they would feel compelled to pay for subscriptions.