1. Discuss the digital disruption that is impacting the traditional print media
ID: 2787909 • Letter: 1
Question
1. Discuss the digital disruption that is impacting the traditional print media of newspapers and magazines Do you think magazine and newspaper publications can respond to these changes and attract and retain readers and in turn advertisers? (LO 12-1, 12-7) 2. The chapter opener discuss the Print Magazine Sales Guarantee that is being used by a number of major magazine media companies to encourage adver- tisers to run ads in print editions of their publications. Evaluate the decision by magazine publishers to offer this guarantee. Do you think it will help increase the number of ad pages they can sell to advertisers? (LO 12-1, 12-2)Explanation / Answer
1. The print media and the newspaper and magazine industry is being significantly impacted by digital disruptions that have recently taken place after the increased acceptance of internet and the development of mobile apps (applications) and micro sites.
Across the world publishers of both newspapers as well as magazines are struggling to adapt to the challenges being faced by them due to digital disruptions. While the core offering remains the same in the form of news and information the mode of consumption of the news and information has changed. Offering of news as well as its consumption has become highly digitized. Digital disruptions have increased the convenience for viewers and readers as they are able to consume data from mobile, video, digital audio/podcasts. Viewers and readers can also make use of virtual reality to consume news in some cases.
Yes, magazine and newspaper publications can respond to these changes and attract and retain readers and in turn advertisers. But for this the publication houses will have to reinvent themselves and start offering news on a real time basis. They will have to shift focus from traditional print format and start offering digital formats. Secondly they will have to go for cost rationalization to be able to compete more efficiently. Thus magazines and newspaper publications will have to play up their long-standing association with high-quality information. By focusing on providing credible and accurate information the traditional publishers can also strengthen their grip on the market as most of the digital news tends to be fake or misleading. Publishers can also tap into transaction revenues and leverage their core strengths in content to move into content marketing.
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