Wednesday, October 14, 2009

You think newspapers have it bad? Try magazines

If you keep up with the media landscape, you would think that newspapers are the only media group with problems these days.

As ESPN's college football personality Lee Corso would say: "Not so fast, my friend."

The economy has affected all media companies - from television stations to networks to radio stations and, in some cases, even companies with strong Internet revenue.

Especially hard hit are magazine titles. In the last two years, more than 1,200 magazine titles have ceased publication. That's equivalent to the number of American daily newspapers.

According to recent reports, the good news is only 383 have shut down this year, including several publications from Conde Nast such as Modern Bride.

While a few newspapers have gone out of business, the larger names - Rocky Mountain News and Seattle Post-Intelligencer - were in markets with two newspapers. For decades, it's been obvious that even large markets can't support two newspapers.

But no U.S. city of any size is without a newspaper nor will it be.

Media depend almost exclusively on advertising for revenue and the current economic recession is the driving force behind lagging revenue. And as the economy recovers, so will advertising.

In the meantime, don't believe everything you hear in the media about newspapers. It usually needs a little perspective.

No comments:

Post a Comment