The decline of traditional media has been well documented. All over the world physical sales of newspapers and magazines have been steadily falling with readers increasingly choosing to get their daily news online or from up-to-the minute social media spheres. So much so that the New York Times now charges for their daily coverage. The release of Apple’s ipad is sure also to add fuel to this particular fire.
However, falling sales statistics and decreased advertising value are matters rarely discussed outside of boardrooms. The recent announcement that Readers Digest has gone into administration after 72 years of print, though, is proof (if any were needed) of the decline in this industry.
I speak with a certain confidence that The Times or Telegraph will not cease printing any time soon. The question however is how many other titles will follow the Readers Digest and fold to the increasing pressure of modern day reading habits and further technological development.
This is the state of modern media – everyone involved now needs to embrace it and adapt, or face the fate of the Readers Digest.