The Graceful Decline of Print Media: Opportunities and Challenges
“When one rises, one falls. When one falls, another rises.” This quote may not be true in every situation in life but in the case of print media, one can say it does apply. The rise of the internet has brought many benefits to the world, there’s no debate about that. However, in the world of journalism — those involved with print media specifically — there might be a section of people who may not be as enthusiastic about the rapid growth of the internet as the rest of us are. The definition of print media according to Google and Oxford Languages is “a means of mass communication means of mass communication in the form of printed publications, such as newspapers and magazines”.
In the world we live in now, news travels around the world within seconds. I read a quote from Rupert Murdoch in a digisoc2 essay from last year. He’s a media tycoon who owns a large proportion of the newspapers in the UK and US, as well as other news firms across the world (India and Australia included). These are the exact words he used “A new generation of media consumers has risen demanding content delivered when they want it, how they want it and very much as they want it.”
One invaluable benefit that technology and digital media have brought to journalists is the ability to get audiences to interact with their news effortlessly, from anywhere in the world. On social media platforms such as Twitter, Facebook and Instagram, readers can leave likes and comments on news content. All of this can be an extra source of motivation for journalists, they can visualise the extent to which people engage with their content and I’m sure journalists all over the world have enjoyed this opportunity.
It can be argued that privately-owned print media can’t help but be biased. Corporate or government money can be involved and who’s to say that this money has no effect on the news they share? State-owned media enterprises haven’t kept a good track record either, examples can be seen in this list made by the Committee to Protect Journalists. The internet has helped with this issue as people can choose what to consume. The power has indeed been given to the people.
One pertinent issue that digital media has brought to consumers is the increased dissemination of misinformation or “fake news” according to the former President of the United States, Donald Trump.
In Africa’s most populous country Nigeria, the government placed a ban on Twitter for 7 months. A major cause of this was the increase in the spread of misinformation. The ban was only lifted when Twitter agreed to meet certain demands of the federal government, demands that included improved measures on the platform to prevent the spreading of “fake news”.
In the image above from Statista it can be seen that even though search engines (a medium of digital media) are trusted as a reliable source of information and news, social media platforms have struggled to improve their reputation over the decade. The cost of distribution through this platform is peanuts in comparison to traditional media and as a result of this, coupled with the lack of gatekeeping by editors and governments, an enabling environment for the dissemination of fake news has been created.
Newspapers were once considered to be one of the most effective tools for advertising. Now they are losing in a competition with digital media alternatives. Online news, social media and YouTube have given printed newspapers a run for their money.
In the UK — one of the world’s largest advertising markets — although advertising expenditure was steadily increasing from £15.5 billion in 2010 to £28.28 billion in 2019, news brand advertising expenditure has gone in the opposite direction while the yearly spend on digital advertising has been increasing year-on-year. The issue of reduced spend on newspaper advertising is a major one but it also presents an opportunity. News firms can improve their digital standing and use the advertising proceeds from that medium to cover for the declining advertising expenditure from newspapers.
Another aspect that is sometimes overlooked is the effect that the printing press had on the planet. Paperless news has helped improve the situation, there is less need for firms to print as many newspapers because there is higher demand for online news updates. In reality, this could be a blessing in disguise, as it helps newspapers reduce their costs and increase their reach. One company that is trying to make the best of the circumstances is The Economist. After a research study they conducted in the UK and USA, as a result of the study, two key business decisions they made were to:
- Prioritise awareness-driving, high-impact digital media
- Add Snapchat to the media plan to reach youth segment
It’s evident that even the biggest news firms understand the value and opportunities presented by the internet and social media platforms.
Newspaper firms are finally adopting digital technologies to handle the difficulties and opportunities presented by digital disruption, despite the fact that this reality has been disregarded for decades.
It is clear that the transition of journalism and news to digital media is inevitable. The news firms that best utilise the benefits of digital media and technology definitely won’t regret the decision in the future. As for journalists, they also must adapt and learn to love the new reality — a huge opportunity for them to improve their skills and audience engagement using the internet.
