There are many who believe that in the days to come print media will be a dinosaur. Not in the size terms but more in the existance terms. It will be extinct. My thoughts on the subject:
The many who believe that print will be dead seem to be assuming print media to be news. Digital content is very ominously shaking the basics of the news print industry as we know it today! The reasons why print media news appears to be failing are
- Digital content has become increasing real time.
- Digital content is becoming crowd sourced.
- Digital content can be customized
- Digital content measures its audience better and thus for the advertiser, it focusses his campaign better on the right audience. In brief, it increases efficiency.
- The print media is not seen as environment friendly. The raw material, wood pulp requires millions of trees to be sawed off.
Thus the traditional news on print industry is facing a double whamy where users are moving to customizable news content and advertisers are reducing their marketing spends because they are unsure about the target group/audience match! Almost all large newspaper houses now have their website and lately have registered on other mediums such as www.twitter.com, www.facebook.com, www.digg.com, www.stumbleupon.com, www.delicious.com, www.readit.com and more…
The idea is to stay relevant in the digital age and engage/interact with consumers. News is soon becoming a two way communication instead of the one way information flow that it had been so many years.
However, does this mean the end of print media?
Reasons: The theme behind the failure is target, customization and focus. Marketeers being able to target their users well and users able to see content which is customized to their requirements.
Print media is more than just news. Reading is more than an electronic habit. So there will be niche’s that the print industry will successfully cater to. The more properly defined the niche is, the better the chances of making money. Journals and Publications which are very niche focused will continue to thrive because it will be producing customized content to a select target audience and there would be opportunities in the niche to make marketing programs viable!
Besides, there is always a thing about the reading habit and the love of reading…. the way it has been through ages!