What evidence is there that the structural changes bringing about rapid change to US media is mirrored in the UK? And where do B2B magazines figure in this revolution? Are they, in some way, immune?
The changes evident in the US are:-
- major financial problems for both big city and local papers with the prediction of one major city title closing before the end of the year. Jobs have already gone
- the sudden prominence given to online over paper, with the launch of streaming videos often presented by traditional journalists and featuring material created by former readers such as Ledger Live
- explosion of small, start up websites, like Baristanet , covering hyper local news competing with the websites of traditional, local papers
- The changes have, inevitably, upset an enormous number of journalists and created a whole new language of anger, as blogger Jessica DaSilva so often discovers
What is happening in the UK?
- National newspapers have seen their share price collapse on fears that advertising revenues are declining without increases in digital revenue making up the difference
- Press Gazette, the B2B magazine for journalists, stops printing as a weekly and reappears as a monthly putting all effort into its online offering
- Earlier this week, Trinity Mirror announced that it is to integrate the online and newsroom operations of its Midlands newspapers resulting in a series of journalist job losses. Reporters will become MultiMedia Journalists
- Obviously journalists are as angry in the UK as the US but just as Jeff Jarvis argues for the inevitability of the new world so Roy Greenslade does the same in the Guardian
- And, finally, figures today show that men’s magazines are suffering decline of readership. Their demographics – young men – are exactly the group of people who feel most comfortable with the web
- B2B readers are always going to be more loyal than for readers of papers since they are either subscribers or,
- receive it free through controlled circulation. The size of circulation becomes a matter for publishers not readers
- The loyalty of most readers is amazing to their B2B magazine – they have read them since they started work
- B2B readers are likely to belong to a number of demographics – unlike consumer magazines. So, if a younger generation turns to the web for its information, then there will be enough older generations who are unlikely to make the jump