07.23.18
The US newspaper market size is expected to value USD 17.07 billion by 2025, according to a new report by Grand View Research, Inc. Shift of the newspaper industry toward digital platforms is threatening to adversely impact the market. This is mainly attributed to a major dip in advertising spending, particularly in print.
Moreover, the average time spent on mobile phones per day is increasing; this permits increased exposure of the customer to digital adverts. Digital adverts have been further expanded through Bluetooth as this targets even more customers owing to accessibility.
Newspapers form a crucial part of the American news scene but have been taking a hit of late since most people consume news digitally. Also, the industry’s subscriber base and financial fortunes have seen a drop since the early 2000s, with a rise in website audience traffic. Alt-weekly papers have also experienced a circulation drop in the past few years.
Further key findings from the report suggest:
• The US newspaper market was valued at $27.84 billion in 2016 and will reach $17.07 billion by 2025
• Advertising emerged as the largest revenue generation segment in 2016 and is estimated to generate more than $8.19 billion by 2025
• Key players such as MediaNews Group Inc.; News Corporation; Tribune Publishing; and The New York Times Company dominated the US newspaper market while accounting for a substantial revenue share in 2016.
Market consumption volumes declined at a substantial rate between 2012 and 2016, to reach a total of 44.17 million copies in 2016. The market’s volume is expected to fall to 43.36 million copies by the end of 2025.
According to the US Bureau of Labor Statistics, approximately 60% of US newspaper jobs vanished in the last 26 years. The statistics also states a steep decline in newspaper employment, from nearly 458,000 in 1990 to nearly 183,000 in March 2016. Within the same period, employment in online broadcasting and Internet publishing rose from about 30,000 to approximately 198,000.
Moreover, the average time spent on mobile phones per day is increasing; this permits increased exposure of the customer to digital adverts. Digital adverts have been further expanded through Bluetooth as this targets even more customers owing to accessibility.
Newspapers form a crucial part of the American news scene but have been taking a hit of late since most people consume news digitally. Also, the industry’s subscriber base and financial fortunes have seen a drop since the early 2000s, with a rise in website audience traffic. Alt-weekly papers have also experienced a circulation drop in the past few years.
Further key findings from the report suggest:
• The US newspaper market was valued at $27.84 billion in 2016 and will reach $17.07 billion by 2025
• Advertising emerged as the largest revenue generation segment in 2016 and is estimated to generate more than $8.19 billion by 2025
• Key players such as MediaNews Group Inc.; News Corporation; Tribune Publishing; and The New York Times Company dominated the US newspaper market while accounting for a substantial revenue share in 2016.
Market consumption volumes declined at a substantial rate between 2012 and 2016, to reach a total of 44.17 million copies in 2016. The market’s volume is expected to fall to 43.36 million copies by the end of 2025.
According to the US Bureau of Labor Statistics, approximately 60% of US newspaper jobs vanished in the last 26 years. The statistics also states a steep decline in newspaper employment, from nearly 458,000 in 1990 to nearly 183,000 in March 2016. Within the same period, employment in online broadcasting and Internet publishing rose from about 30,000 to approximately 198,000.
