Newspaper has faced a huge decline in selling printed copies within the last decade. This is due to the rise of the internet; information is now available instantly and free of charge and so users are now going online for news rather than reading printed paper. In 2013, the total revenue within the newspaper industry decreased by 2.6% (Harvard Politics).
Newspaper had no option – they had to go digital in order for them to keep their audience. Newspaper could therefore save money on print as a decline of hardcopy purchases are made as a result of more people going online to read the news. As a result, it is now even quicker for news to be made available to the public; stories are published within minutes of an event occurring.
The issue arises now as to how print media can make money without selling any papers; to resolve this, news websites have adverts published on their pages. This benefits both the advertiser and newspaper; of course, the newspaper benefits because it makes money off the advertisers. Advertisers find their primary target audience according to internets users’ psychographic and demographics found on social media sites. They feature their adverts on pages that their audience would be most likely to read. This benefits them as they can efficiently target their audience. This efficient method has enabled many major newspapers to grow and remain relevant; as early as 2008, Los Angeles Times’ online income became enough to pay for their paper’s entire print and online news staff.
The Independent newspaper have taken a step into the future to become the first digital-only newspaper. They have stopped publishing hard copies of their newspaper and are only available online. Steve Auckland, Group CEO, ESI Media saw The Independent’s switch to digital as “a further opportunity for our advertisers to capitalise on our growing, smart, affluent and digital savvy audience”.
Stepping into the modern world means that newspapers are set to remain relevant for years to come.
It is now time for radio to follow in the footsteps of newspaper and become a part of the internet; remaining relevant and becoming more successful.