People have been trying to deny the trends for years now, but at this point it’s clear: traditional print media is on the decline. With the ubiquity of internet-connected devices and the prevalence of free wi-fi, most people are just getting their news online. What does that mean for traditional news and magazines? Let us here at Woburn Jaguar, your Jaguar Dealer Wellesley MA, give you an update.
Barry Diller, the chairman of the company that recently obtained sole rights to the magazine Newsweek, has announced a plan to end its traditional print copies as soon as this fall. Newsweek isn’t going anywhere though, it will just be transitioning to an online only edition. This is happening more and more lately, with many papers and magazines moving to digital only and nearly all of them having some kind of strong digital presence.
The problem isn’t the content of Newsweek, it’s purely a business decision. The magazine is still rated highly and is well regarded, but the logistics are the logistics, and it’s losing money. Diller has implied his main concern is the overall profitability of the company, IAC, and he’s willing to buck tradition to keep the company at large intact.
The general consensus is that pretty much every publication will ultimately make the transition to full on digital in the near future. When pressed, most CEOs admit that as soon as their publications stop turning a profit, they’ll yank them from the shelves and make them available solely online. Some people are lamenting the impending change, but most seem to feel that this is simply the natural progression of industry.