Print media, once the bastion of the communication industry, is now a failing business model.
The Pew Research Center reports that the newspaper workforce has been cut by about 20,000 positions over the last 20 years, representing a 39% decrease in the number of journalists. Editor & Publisher, the industry’s trade magazine, even listed that there are 126 fewer daily papers in 2014 than in 2004.
For the papers that have survived, circulation has dropped another 7% since 2010. Print companies saw the greatest decline in revenue, losing 8% of their ad revenue in 2015 alone.
Finding statistical data has become a challenge when looking into print media because the Newspaper Association of America (NAA) no longer releases industry-wide revenue data. With effort is still possible to find some statistics however, much less than in years past.
Print media’s largest opponent is the Internet and its abundance of digital resources.
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Barthel, M. (2016, June 15). Newspapers: Fact Sheet. Retrieved March 07, 2017, from http://www.journalism.org/2016/06/15/newspapers-fact-sheet/