It seems technology is changing everything in our world in an instant, including the world of print media.
The world of print news isn’t failing because of a lack of good reporters or stories to cover, but rather the lack of circulation and most importantly the decline in advertising, as was reported by Matthew Ingram, in Bloomberg Businessweek.
The news industry was built to handle the cost of advertising, which can range from $50 billion to $60 billion yearly, but with the Internet becoming more prevalent over newspaper, it’s been hard for many papers to stay afloat. Cutting back on daily print news is being done, but it tends to lead to layoffs, according to Mark J, Perry, in his blog, Carpe Diem.
The most recent causality in the struggles of newsprint is The Times-Picayune, base in New Orleans. The Picayune has moved to a three-day-a-week publishing schedule instead of all seven days. The paper has been in business since 1837.
“The loss of a daily paper is a terrible blow to a city that has had more than its fair share of misfortunes,” said New Orleans Mayor, Mitch Landrieu, in the 60 Minutes interview.
Newhouse publishing is the owner of The Times-Picayune. Newhouse decided to cut back print to only the most profitable days, hoping it would drive people to go to the web to read the paper because they want to increase online readership.
The Picayune is just one of many papers in the past couple of years that had to either cut printing gone solely on the web or shut down publication completely. There is no sign that this trend is going to turn around anytime soon, which leads one to wonder if the age of print news is passing away.