The constant announcements about the death of print media may be premature, but there is little doubt that traditional print media companies have been some of the hardest hit in the past decade as digital media has taken much of the spotlight.
And the hits keep coming: eMarketer says adults in the United States are now spending more time using their mobile devices than they are consuming print media.
It's a blogger's world and print publications just live in it. Thanks to the power of internet self-publishing, mini media empires have been built by small companies and passionate individuals working from their homes. Increasingly, these online mini media empires have complicated the picture for print publications whose online presences have been forced to compete on less favorable terms for a more fragmented online audience.
In an effort to stay relevant, print publications are trying to sup up their internet efforts. The latest example of that: Time's new tech/geek blog, Techland.
Times are tough for many magazines these days. BusinessWeek knows that
first-hand. The weekly business magazine will reportedly lose some $40m
But after a long bidding process, it has found a knight in shining armor:
Bloomberg LP. The privately-held financial software, data and news
company is acquiring BusinessWeek for an undisclosed sum rumored to be
in the range of $2-$5m (yes you read that right, million). It will
also take on BusinessWeek's liabilities, which could far exceed that
There's a lot of talk about the future of magazines, and print media in general, because there's a lot to talk about. When it comes to discussing what the future holds, Rex Hammock is one of the guys you want to speak to.
He's a veteran "magazine guy" who co-founded the Custom Publishing Council, served as a director of the American Business Media trade association and is today the CEO of custom media firm Hammock Inc. His recent guest column in Publishing Executive entitled "9 Things I've Learned About Magazines by Blogging" piqued my interest so I decided to ask Rex about the state of the magazine industry, what the internet means to print publishers today, the pay walls that are coming up and what blogging might look like a decade from now.
There's a lot of talk about paid content these days for obvious reasons and there's only going to be more of it now that Rupert Murdoch has announced plans for News Corp. to go all in.
One of the reasons there's so much debate over paid content is that there are a lot of misconceptions and myths about paid content. As someone who has run paid content websites for years, I thought I'd share the five biggest paid content myths I frequently hear mentioned in discussions about paid content.
Thanks to the 'Great Recession', few expected Q1 2009 to be a pretty quarter for ad spending in the world's most prolific advertising market, the United States.
Thanks to Nielsen (PDF), we now have some idea of the damage: a 12% year-over-decline. That amounts to a $3.8bn drop in the size of the total advertising pie.
As if things weren't bad enough already for print publishers, the United States Postal Service is raising rates in May by around 4%.
The rate hike, which will apply to first class, standard and periodical mailings, is one more stake in the heart of the already troubled print media industry. In times such as these, it's hard to imagine an ad rate hike that could realistically cover higher distribution costs.