Newspapers are facing the end of its time and I think the internet is to blame. We all know we live in an instant gratification generation and the people want their news when they want and updated every time they choose to check it. Printed news can’t satisfy that need. “The decline continued a 20-year trend in the newspaper industry as people increasingly turn to other media such as the Internet and 24-hour cable news networks for information.” (Newspaper Circulation Continues to Decline) Even though newspapers have been around longer than we have I believe times when mom and dad sit at the kitchen table every Sunday flipping through the pages may be done forever. But, I have to admit I never was a big fan of newspapers. Only in the past few years have I been interested in the news and I like using the internet to find out what I am curious about. I like that news online can be updated within minutes, perhaps seconds when breaking news emerges. Sadly, I can see why newspapers are declining.
The downfall of newspapers is falling faster then thought ”with total print advertising revenue in 2007 plunging 9.4% to $42 billion compared to 2006, the biggest drop in revenue since 1950″ (Decline of Newspapers Accelerating) I am a little shocked the percentage is so high. It’s odd to realize that some newspapers are actually ending. It emphasizes our economic issues even more to me. Big changes are happening, even in places that have been around for 150 years.
If printed news looses its readers to other mediums they simply can’t make enough money to stay afloat. Newspapers do not make most their revenue from subscription fees but from advertising. If the readership decreases so will the money spent of advertising. It does not seem profitable anymore.
I wonder if magazines are next. They are for a more specific audience so perhaps it might last if these segments of people still crave their need more targeted information. But you can also find magazines online as well. What about books? What about anything printed? Are destined for a purely digital form of shared information?
If advertising can’t be used to save newspapers what about price cuts? USA Today switched its price from 75 cents to 50 cents. I wonder if this will make a difference.
