Changes in the market for news media
Monday 6 November 2023
If you got on a train, went into a coffee shop or walked around an airport 15 years ago you would see people deeply engrossed in newspapers and magazines. Walking into these places now you would see people scrolling on their phones or iPads. This is a snapshot of the way people’s consumption of news has changed.
The global decline of the print newspaper industry has occurred because of a combination of factors: technological advancements, changing consumer habits, and economic challenges. One of the key reasons for the global decline of newspapers and magazines is advances in digital technology. The internet, combined with the rise of social media and online news platforms, has revolutionised how people consume information. Instant news delivery and the accessibility of free online content are powerful alternatives to printed material which have led to a huge decline in newspaper and magazine readership. According to data from the Pew Research Centre, between 2000 and 2020, print newspaper circulation has dropped by over 50%.
Changes in consumer behaviour have also been significant in changing how people consume news. Young people, in particular, prefer digital news sources, accessing information through smartphones, tablets, and computers. Printed material is no match for the speed and interactive nature of online news platforms. Reading an article online often means you can access an embedded video or look at a series of associated high-quality digital photographs.
Economic factors have also contributed to the decline of printed media decline. The rise of digital advertising has diverted revenue away from traditional magazines and newspapers. On top of this the cost of printing, distribution, and the physical infrastructure needed to support the production of printed newspapers and magazines is something digital media does not have to face.
In addition to published news, it is worth considering the influence of 24-hour television news which is an important substitute for printed newspapers and magazines.
The fallout in the traditional print media industry has been considerable. Many prominent newspapers have ceased publication or moved entirely to digital formats. The Independent newspaper in the UK ceased production as a printed newspaper and is now an online-only offering. Other newspapers have reduced the printed versions and expanded their online offering. The New York Times website had over 5 billion online visits last year.
Another important change in the news media market is the people accessing news through social media. Another significant challenge to print media. Nearly a third of US adults say they regularly get news from Facebook.
Some possible questions to discuss with a class
1. List the way different people in your class access the news.
2. What impact has the increasing number of alternative news sources had on the demand for printed newspapers and magazines?
3. How might the decline in printed newspapers and magazines have affected employment in the industry?
4. How might the decline in printed newspapers and magazines have affected the retailers who sold newspapers and magazines?