Let’s start with the evidence that the print industry is indeed in severe decline. Research by the Pew Research Centre found that news circulation in the US fell dramatically in 2015, and continues to do so; weekly newspaper circulation fell by 7% from the previous year, and Sunday newspapers dropped by 4%.
In case you thought this was a blip, you can also see a similar change in advertising revenue in printed media; this dropped a staggering 50% between 2005 and 2013, and again continues to follow this trend. Where is this going?
Well, in 2015, AdAge reports that worldwide online advertising revenue stood at $59.6 billion, an increase by 20% on the previous year, another dramatic increase which shows where the paper advertising is going.
Newspaper employment dropped by 10% in 2015 and by a staggering 39% in the past 20 years, which coincidentally is also throughout the spell of the rise of the internet. While staff are leaving the scene, so are whole newspaper organisations. The Press Gazette says 198 local newspapers closed in the UK since 2005, with only 29 new launches, the North West, Yorkshire and London the biggest sufferers. Johnstone Press and Trinity Mirror closes a joint total of 36 papers.
But for all these negative stats about the print industry actually dead? Well, it is dying. Ofcom figures show that even those who grew up with print over the internet, are now turning away from newspapers; 54% of 55+ year olds read a daily newspaper in 2014, this had dropped to 44% in 2014. And figures for 16-24 year old show that eventually, there will be no demand for print in the next generation, as their percentage droped from 36% to 2% in the same year.
But while online rises and rises, the future of news is not PURELY online. Online journalism is now bigger than print, radio and magazines, but it has a long way to go before it beats TV.
51% of 16-24 year olds consumed TV news daily in 2015, and 86% of 55+ year olds did the same. While the younger category has a higher online news consumption at 59% daily, the older category for online news is still significantly less than TV, at 23%, a difference of 63%.
In conclusion, all current evidence points towards the death of print in the not so distance future, but online will not be the sole provider of news. There is still a bigger demand for TV news.
Bibliography
Barthel, M. (2017). Newspapers: Fact Sheet. [online] Pew Research Center’s Journalism Project. Available at: http://www.journalism.org/2016/06/15/newspapers-fact-sheet/ [Accessed 6 Apr. 2017].
Cox, J. (2017). New research: Some 198 UK local newspapers have closed since 2005 – Press Gazette. [online] Pressgazette.co.uk. Available at: http://www.pressgazette.co.uk/new-research-some-198-uk-local-newspapers-have-closed-since-2005/ [Accessed 6 Apr. 2017].
Anon, (2017). Ofcom News Consumption Report. [online] Available at: https://www.ofcom.org.uk/__data/assets/pdf_file/0020/77222/News-2015-report.pdf [Accessed 6 Apr. 2017].
Slefo, G. (2017). Digital Ad Spending Surges to Record High as Mobile and Social Grow More Than 50%. [online] Adage.com. Available at: http://adage.com/article/digital/iab-digital-advertising-generated-60-billion-2016/303650/ [Accessed 6 Apr. 2017].