Yes, genealogy has played a major part in taking away faithful readers of the hardcopy newspaper, however it is not the only challenge we are struggling to overcome with the future of this industry; we are much aware that advertisement is the backbone of this company observing that with the mass drop of readers the advertising sections are looking elsewhere to pursue public attention, leaving the industry with little sponsorships. If these issues are not addressed and solved urgently the industry is looking at a dark future ahead.
Background Print newspapers are quickly becoming a thing of the past. Ever since the digital revolution distribution levels are declining as consumers continue to switch their attention to online news content. Australian News Corporations have reported a large rise in net profit despite a weak result from it hard copy newspaper mainly because of the lack of advertising revenue and the mass shift of hard copy consumers to online followers. Due to low distribution print sales revenue has dropped dramatically, in spite of cover price increases.
Since this has become very evident to the public its effects on the marketing section has also decreased diminishing advertising revenue as newspapers lose more consumers. Although newspaper companies are contending online, advertising revenue is far less affective due to the limited space on a web page. With the large loss of consumers and a loss of advertisement interest over the past five years, the industry revenue is expected to have declined by 8. 4% annelids over the five years through 2013-14 predicted to be worth $4. 3 billion. Considerations The harsh reality is that hard copy newspaper consumers are headed to the cemetery.
Ross Dawson claims that the rise of social networking was to be predicted n his book Living Networks written in 2002. In a section Dawson states that modern technology such as the ‘pad and other similar successors mark the future of print newspapers, he claims ‘by 2020 entry-level devices to read the news will cost less than $10 and often be given away. More sophisticated news readers will be foldable Although the internet has played a major role in ripping away consumers from printed newspapers it does not have a power to save the industry alone.
Due to online Journalism being an area that cannot support a large employment of journalists writes the Cricked chairman (The Monthly, 2014, page 7). The industries high concentration level, consists of many different companies, four of its main players are News Corporation, Fairfax, Seven West Media and PAN News and Media; accounting for a predictable 87. 0% of the industry profits in 2013-14. Between these leading corporations they supply most of Australia’s reporting on economics, politics, Justice, welfare, health, science, public policy, international affairs, culture, arts and ideas.
Five years ago these four industries employed around 1500 journalists. Today that number is near the 1000 mark; within two years it could be as ewe as 500 which illustrate the huge downfall of hard copy newspaper. The print industry is rapidly losing a great deal of profit for every dollar they lose the make less than 10 cents for online, which restates that the internet alone cannot save the newspaper industry. For years newspapers have been support for the Australian democratic infrastructure, observing parliament, and the courts as the enforcement of public accountability and scrutiny.
In the US Pew survey (State of the Media Report) demonstrates that the inevitable control of online media is rapidly becoming the norm. Pew survey states that media news is being consumed more than any other form over taking newspaper and radio. As consumer rates drop so does the advertising revenue, The Age and The SMS have lost up to a third of their exchange in the last 3 year, it is a huge worry that this will continue to be the case as consumer continue to fall away from print newspaper.
Even though the negatives far outweigh the positives in print newspaper future, there are those who would argue otherwise. An example of a major benefactor that sees a bright future for print is the CEO of news limited Kim Williams who mentioned ‘There is much to be positive bout. Robust continuing and truly great Journalism; sustainable business models for print and shiny new business models in digital media; and a heightened and voracious appetite from consumers for diverse news and information across their spectrum of passions and interests… Last year during a lecture at Melbourne University. Fairfax CEO a year before that also had similar views, Greg Haywood stated that the future of Journalism has never looked stronger’. Claiming that the internet was the reason for its benefits and consumers are looking for variety. However the case online news will never make as much as the four leading newspaper companies of $1 50 million or even a fraction of this price.
Although there are two major factors to having coverage that creates millions of websites and blobs, also billion of web pages, ensuring a collapse of online advertising revenues all but very professional or unique websites, which creates a dilemma in contamination news. Conclusion Change is a large part of life, usually the change is for the better media the internet provides a wide range of different news which most is free and can be accessed easily. The question is why would readers waste money and time on buying an old- fashioned hard copy newspaper?
They wouldn’t and that is the sad reality of print journalism and the dark downhill tumble for hard copy newspapers. Online world remove the powers of gatekeepers to use (and abuse) influence society by contributing to their media. Recommendations Focus on online news productions and online news weeper’s that allow consumer to comment and have an opinion Use online advertisement as a form of decoration on weeper’s, have adds before the news clips on the web Spend less money producing extra newspapers and focus on building a new form of technical newspaper device or news tablet or booth that will be new and exciting.