In today's modern age, the traditional media industry is suffering. The newspapers, the printed books, and the video industry have all seen better times and even some filing Chapter 7 bankruptcy. Check out this interactive infographic of how the media industry has changed through the years.
*Please use the above code unaltered or include a citation of this site as the original source.
Media has had a rough time of it recently. With bookstores going out of business and new regulations attempting to restrict online content, things are definitely changing. Just how much remains to be seen.
One of the longest-running forms of media is in trouble. Newspapers were once a staple in every household, but that’s just not true today.
Between 2007 and 2010, 13,500 newspaper journalists lost their jobs.
U.S. Newsrooms have lost 25% of their full-time staff.
Full-time staff levels are lower than they have been since the 1970s.
2008-2009 saw the largest drop in staff in a 12-month period, but this has now slowed.
Citizen Journalism, locals reporting on their own news is on the rise.
Just 40% of people read a newspaper online or in pring, and of those:
What is Going On?
Over the past couple of years, dozens of bookstores have gone out of business, including large chains like Borders.
Amazon now sells more e-books than print books. The last known ratio was 115 e-books for every 100 print.
The third generation Kindle is the bestselling product ever on Amazon.
Originally for adults, e-readers are becoming more popular with younger readers now.
25% of young adult book sales at Harper Collins were e-books in January 2012.
While the actual movie may not be in danger, we’ve already seen a decline in video rental stores. Is the writing on the wall?
Netflix, an online streaming video service, predicts that DVDs will be obsolete by 2030.
The company has moved almost entirely to streaming video.
In 2009, the company saw an 18% drop in revenues in the U.S.
Blockbuster shut down all stores in Canada.
In 2010, Hollywood Video when bankrupt.
It is becoming obvious that digital is the way to go, and the Internet is now the source of much of our media…but even that is in danger.
SOPA=Stop Online Piracy Act
The idea: To crack down on online piracy and copyright infringement by preventing access to websites that host and aid the transfer of pirate materials.
Sites like Pirate Bay would be shut down or blocked.
Two Sides to the Story: While Congress pushes for passing SOPA and its sister act, PIPA, others say it will destroy the Internet as we know it.
Opponents feel SOPA will destroy the online economy.
Because neither SOPA nor PIPA clearly defines what constitutes copyright infringement, it leaves the door open to affect virtually any company.
Malicious claims could disable websites that aren’t really infringing at all.
Wait, isn’t that already illegal: 1998 Digital Millennium Copyright Act
Media has always been a very flexible medium, and with the Internet, it is becoming more and more difficult to control. Where will things end up? Time will tell.
To see how some companies are dealing with the changing music industry, check out this report on the high penalties for illegally downloading music.
PAID ATTORNEY ADVERTISEMENT: THIS WEB SITE IS A GROUP ADVERTISEMENT AND THE PARTICIPATING ATTORNEYS ARE INCLUDED BECAUSE THEY PAY AN ADVERTISING FEE. It is not a lawyer referral service or prepaid legal services plan. Total Bankruptcy is not a law firm. Your request for contact will be forwarded to the local lawyer who has paid to advertise in the ZIP code you provide. Total Bankruptcy does not endorse or recommend any lawyer or law firm who participates in the network nor does it analyze a person's legal situation when determining which participating lawyers receive a person's inquiry. It does not make any representation and has not made any judgment as to the qualifications, expertise or credentials of any participating lawyer. No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers. The information contained herein is not legal advice. Any information you submit to Total Bankruptcy does not create an attorney-client relationship and may not be protected by attorney-client privilege. Do not use the form to submit confidential, time-sensitive, or privileged information. All photos are of models and do not depict clients. All case evaluations are performed by participating attorneys. An attorney responsible for the content of this Site is Kevin W. Chern, Esq., licensed in Illinois with offices at 25 East Washington, Suite 400, Chicago, Illinois 60602. To see the attorney in your area who is responsible for this advertisement, please click here, or call 866-200-8052.
FLORIDA ONLY: Total Bankruptcy is considered a lawyer referral service in the state of Florida under the Florida Rules of Professional Conduct. By all other standards, Total Bankruptcy is a group advertisement and not a lawyer referral service.
If you live in Mississippi, Missouri, New York or Wyoming, please click here for additional information.
By an Act of Congress and the President of the United States, we are a federal Debt Relief Agency. Attorneys and/or law firms promoted through this Web site are also federally designated Debt Relief Agencies. They help people file for relief under the U.S. Bankruptcy Code. Disclosures Required Under the U.S. Bankruptcy Code.