Key Note Media Centre
The Future of Newspapers
According to the new Market Report Update Newspaper from market intelligent provider Key Note, the declining newspaper industry shows no signs of recovery, threatening one of the most historical markets in the UK. In retrospect, the newspaper industry has been in long-term decline for many years; however, since the economic downfall in the UK this rate has been significantly accelerated wherein the whole industry could become non-existent in distant future.
Declining circulation rates and a decrease in newspaper advertising revenue are having a negative impact on the market, affecting the number of titles available, as many have had to close due to financial problems. In regards to declining circulation, rates are believed to have dropped due to more consumers opting to use digital news formats, notably through the Internet. Online sources are believed to be the greatest threat to the print industry, with many publishers desperately trying to achieve an online following in order to survive.
The loss of the News of the World in July 2011, is believed to have had a severe impact on circulation rates and value for the industry, but has also created a lot of distrust amongst consumers. This distrust is being further fuelled by speculation that the News of the World was not the only title involved in phone hacking, and more titles could potential be brought into the scandal, further threatening the industry's future.
Between 2011 and 2015, Key Note forecasts that the newspaper industry in the UK will decline by 4.9% to an estimated value of £5.49bn in 2015.
Press enquiries: Jack Sykes at Key Note at email@example.com or 0845 504 0452. Press/review copies of the report are available on request.