Life in the old dog
Many thanks to Stu Smith, our librarian at Leeds Met, for pointing me towards a recent report, from the analysts Generator Research, which indicates that there’s still money to be made in the news business.
The worldwide newspaper industry will grow from USD 114.3 billion in 2014 to USD 123.1 billion in 2018, an increase of 7.7%. While print advertising revenues will fall by 3.8%, from USD 64.5 billion in 2014 to USD 62.1 billion in 2018, revenues from copy sales, digital advertising and digital subscriptions will all increase. In developed internet markets the newspaper industry is experiencing a structural contraction which is being caused by digital technology and the internet. But in markets where the internet remains immature – India, Romania and the Philippines, for instance, traditional printed newspaper businesses are thriving. While publishers in mature markets will have to swallow a bitter pill, which will eventually see them downsizing or selling off their print operations, there has never been a better time for skilled writers, visionary publishers and savvy investors to get involved in the news business.