From the US Census Bureau
Many Americans may not remember the last time they stopped by a newsstand to pick up a magazine or newspaper. Or the last time they passed by – let alone walked into – a video store.
The rise of digital media and technology has transformed the way we access our news and entertainment.
It’s also had a devastating impact on print publishing industries.
The rise of digital media and technology has transformed the way we access our news and entertainment.
The latest U.S. Census Bureau Service Annual Survey (SAS) provides a unique look at the financial hit these industries took between 2002 and 2020:
Estimated Newspaper Publishing revenue dropped by 52%.
Estimated revenue for Periodical Publishing, which includes magazines, fell by 40.5%.
Video Tape and Disc Rental revenue decreased by 88.5%.
There was a pronounced shift from print to digital media in the first two decades of this century.
Total estimated weekday circulation of U.S. daily newspapers was 55.8 million in 2000 and dropped to 24.2 million by 2020, according to Editor & Publisher and the Pew Research Center.
As circulation slid so did revenue: Newspaper Publishing revenue in 2020 was less than half what it was in 2002, dropping from $46.2 billion to $22.1 billion, according to the SAS. There was a 27.8% decrease in revenue from 2002 to 2010, and a 33.6% decrease from 2010 to 2020.
Periodical Publishing, which includes medical and scientific journals, religious and scholastic magazines, and other specialty publications, took a similar hit.
Estimated revenue from Periodical Publishing dropped from $40.2 billion in 2002 to $23.9 billion in 2020. There was a 20.7% revenue decline from 2002 to 2010, and a 25.0% decrease from 2010 to 2020.
Marketing online is much cheaper than traditional advertising approaches. The price of newspaper advertisements can often fill up a company’s entire marketing budget and vary greatly depending on the region and newspaper the ad appears in.
For example, a full-page black and white ad in some "local" newspapers can run in the hundreds of dollars. An ad campaign online with a local online publication is about 1/10th the cost of print, and you get marketing for an entire month. Often, you can reach the same number of potential customers, if not more, with an online option at vast financial savings.
it is important to note that decreasing circulation numbers throughout the United States jeopardizes the reach of your ad campaign. while online marketing has the potential to reach an unlimited number of consumers.
