The Pew Research Center’s annual report on American Journalism, The State of the News Media, was released this month and it paints a bright future for online news publishers but a dim future for print newspapers.
For the first time in history, online news consumption surpassed print newspaper news consumption in 2010. 46% of survey respondents stated that they get news online three or more times per week. In 2010, print newspaper ad revenues and audiences continued to decline according to the Pew report, but survey respondents also reported that they would be willing to pay up to $5 per month to read their preferred newspapers online. Of course, saying they would pay for access to newspaper content online and actually paying for it are two very different things.
The times really have changed and the way that people access information today is online. The Pew report states that every media sector except online is losing money. However, local television news is still strong and thanks to local advertising revenues, its future doesn’t look as bleak. Furthermore, AM/FM radio listening is at a crossroads. As Pew reports, car manufacturers like Toyota are releasing new models that come with online radio. This shift could mean that a big decline in AM/FM radio listeners is coming.
News media consumption has changed so much and so quickly. The question is which news media outlets will actually be able to stay alive (and relevant) over the next few years. What do you think?