Though the changing US political landscape has instilled hope among the masses, there's little to go around in the print industry as of late.
Lots of lay-offs are impending and merges between print and digital media are inevitable.
Downsizing the Publishing Industry
- Time Inc., the biggest magazine publisher in the world, is cutting 600 jobs, about 6 percent of its total staff. The company is also doing a complete reorg and will organize its 24 magazines into three different units.
- Gannett announced plans to lay off more than 3,000 employees at its local papers. This is Gannett’s second big round of job cuts since August.
Not surprising, the layoffs can be attributed to the economic downturn and a continued difficulty attracting advertising sales at the local level.
The Word for the Day is 'Merger'
As for magazines, the big issue is how to determine the level of “integration” between the print and the digital side:
- PaidContent.org reports that rumors have been swirling about the merging of Forbes magazine and its website, Forbes.com.
All the while, some are dropping the print side altogether:
- The Christian Science Monitor announced that it will be the first US newspaper to drop its daily print edition and focus on publishing online, succumbing to the financial pressures.
And then there is the speculation that old media is scheming to take over new media, just so they can live vicariously through them:
- Newser Founder Michael Wolff says that “a lot of companies in Silicon Valley…are going to be attractive to old media companies on the East coast. Those are worth going out and looking at and buying.”
And Now We Turn to Blogging
Meanwhile, on the web, blogs are thriving, yet lack credibility:
- A recent BuzzLogic-sponsored study revealed that the number of those who read blogs at least once a month has grown 300% in the past four years, and what they read strongly influences their purchase decisions, playing a key role in moving them to the point of actual purchase.
But only if the blogger has used proper grammar and punctuation:
- A survey run by a crowdsourced copy editing service called GooseGrade concluded that spelling, grammar and factual errors have a material impact on the success of a blogger, so much so that approximately 200 respondents told GooseGrade that “while blogs aren't a major source of news for most of them, they often find errors on blogs and that makes them less likely to share the content they find there with other readers.”
Downsize. Merge. Buy. Sell. Spell correctly. And Hope.
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