The Decline of The Media Industry
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The Decline of The Media Industry

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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.

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The Decline of the Media Industry

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.

The Newspaper Industry

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.

  • Advertising revenues dropped by 44.24% in just 4 years.
  • 2005 - $49.435 billion
  • 2006 - $49.275 billion
  • 2007 - $45.375 billion
  • 2008 - $37.848 billion
  • 2009 - $27.564 billion

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:

  • 41% read online
  • 31% read print papers

The Printed Book

What is Going On?

Over the past couple of years, dozens of bookstores have gone out of business, including large chains like Borders.

  • The Demise of Bookstores: First, mega-bookstores wiped out most smaller bookshops. Then mega-bookstores began to go out of business.

What Happened?

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.

The Video Industry

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.

SOPA

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

  • This act protects against copyright infringement.
  • It does not protect from overseas infringement.

Everything is Changing

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.


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