Print newspapers today old guard gives way digital mediums

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Print newspapers today: The old guard gives way to digital mediums

Print newspapers continue to decline in popularity, making digital news consumption the most common way for people to stay updated.

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Quantumrun Foresight
March 27, 2022

Insight summary

The seismic shift from traditional print to digital media is reshaping the entire news industry, driving readers away from physical newspapers and altering advertising dynamics. This transformation is creating both challenges and opportunities, with potential job losses, changes in journalistic training, and the emergence of new platforms like virtual reality. The long-term implications affect everything, from business models and governmental regulations to environmental sustainability and global media influence.

Print newspapers context

The growth of online news consumption, which accelerated during the 2010s, has had a profound impact on the traditional media sector, leading to widespread job losses. This change has occurred in two significant ways. First, the diversification of information delivery choices has altered the news industry's operating environment, impairing the ability of former industry leaders to set advertising prices. Second, the industry has been pushed to adopt cost-efficient news coverage and production policies and technologies that require fewer workers, thus raising productivity levels.

Starting in the late 1990s, employment in printing houses and associated news support services began to decline. By 2001, annual average employment in these auxiliary industries had fallen by roughly 55 percent. This trend continued, and between 2019 to 2029, forecasts for these auxiliary service providers anticipate a further drop of 19 percent, according to the Bureau of Labor Statistics.

Meanwhile, internet advertising, particularly mobile marketing, has been a key factor in generating more ad income than non-digital advertising channels like print and television. Revenues from mobile marketing more than doubled from almost two billion to USD $102.6 billion between 2011 and 2020. This trend in advertising revenue reflects a broader shift in consumer behavior and preferences, favoring digital platforms.

Disruptive impact

The allure of free and interactive online news is driving increasing numbers of print readers away from physical media, leading to a potential replacement of print newspapers entirely by the early 2040s. Assuming current media consumption trends continue, total net employment within the print news industry may decline further throughout the 2020s, at rates similar to previous decades. This decline is due to ongoing market share loss to other media and increased automation, reflecting a broader shift in how information is consumed.

The shift from print to digital media may be detrimental to senior editors and writers who cannot or refuse to adapt to changing media consumption trends. However, this change is not uniformly negative. Younger writers may find opportunities to thrive in a growing digital news environment that is hungry for content creators. These creators can produce interactive news coverage that appeals to audiences on various platforms, including social media, streaming platforms, augmented and virtual reality, and the eventual metaverses, reflecting the evolving nature of media engagement.

Governments, businesses, and educational institutions need to recognize the long-term impact of this trend and prepare for a future where digital media dominates. Training programs that focus on digital literacy and the development of skills relevant to new media platforms may need to be implemented to ensure that current and future generations of journalists can adapt. Collaboration between industry leaders, educational institutions, and policymakers can foster an environment where creativity and adaptability are nurtured.

Implications of print newspaper decline

Wider implications of print newspaper decline may include:

An eventual redefinition of ‘print’ to mean any form printed or digital format that depends on the written word to convey news, especially as video and virtual reality media consumption dominate news consumption market share during the 2040s.

Reduced job, training, and development opportunities for young journalists in the norms and principles of traditional journalism, leading to a potential loss of certain ethical standards and practices that have been foundational to the profession.

An increase in journalism students that are trained in or have backgrounds in multimedia creation, big data analysis, computer science (potentially even former hackers), leading to a more technologically savvy workforce that can leverage these skills to enhance storytelling and audience engagement.

A shift in advertising revenue from traditional to digital platforms, leading to changes in business models that prioritize online engagement and monetization strategies such as paywalls, subscriptions, and targeted advertising.

The potential marginalization of older generations who may not be as comfortable with digital media, leading to a lack of access to information and a widening gap in media literacy between different age groups.

A greater emphasis on environmental sustainability as the decline in print media reduces the demand for paper, leading to decreased deforestation and a positive impact on the environment.

The rise of personalized news delivery through algorithms and artificial intelligence, leading to potential echo chambers where readers are only exposed to viewpoints that align with their existing beliefs.

The need for governments to adapt policies and regulations to ensure that digital media platforms operate transparently and responsibly, leading to enhanced accountability and trust in the information landscape.

A potential shift in global media influence as digital platforms enable smaller and more localized media outlets to reach broader audiences, leading to a more diverse and representative media landscape.