An archived article from the New York Times about the steady decline of the print media in recent years. This appeared towards the end of 2008. The situation, if anything, has considerably worsened since in the markets that this report refers to.
The precipitate fall of conventional print media at the hands of digital media, including social media, continues as this archived piece from the NY Times states. The trend hasn’t been reversed in the last 3 years at least as this archived article from CNN will show http://is.gd/VrIiAG . Recent studies point to a consolidation among print media. Thus large national & international groups like the NY Times or the Washington Post will survive this onslaught and possibly even gain temporarily owing to the decline and closure of smaller print media. Some recent data & metrics suggest that social media may actually be helping to cushion & stall the decline of players in the print media to an extent.
The situation is no different for print magazines as this archived study from as far back as 2009 will show http://is.gd/B0d2pL
The big print media players are now heavily leveraging on social media to remain relevant and alive. Here’s a recent article that describes the various ways that this is happening. http://is.gd/4bc485
In India the situation is somewhat different owing to the following factors
1.The low penetration & reach of land broadband networks (ref. piece from the Economist on this issue, shared earlier in this group http://econ.st/iNvNXj ) together with the relatively low availability of relevant hardware to access broadband networks, specially in semi-urban and rural areas.
2. The grossly delayed introduction of 3G mobile services which has also helped to stunt the growth of digital and social media together with other content available digitally.
These don’t seem to be by design but rather owing to the lack of focus and inefficient implementation by the national and several state govts. This situation will hopefully reverse and resolve itself in the coming months and years and hence the trends mentioned above will become very evident in the Indian market too in the foreseeable future. Its not a question of ‘if’ but ‘when’.
Finally a word about Twitter, one of the major planks in the social media universe currently. It is amazing how the twitter platform, whose initial usage was largely restricted to people tweeting their friends about where they were planning to have lunch or go shopping or holidaying has expanded in scope with brand extension & usage diversification largely being defined and driven by its ever-growing numbers of users globally. Twitter today is getting to represent more of a news network than being merely a social network as this article so appropriately details http://is.gd/dSCviY .
In fact this ever expanding usage of Twitter is making the organization seriously contemplate launch its own news network as mentioned by one of its co-founders recently. http://is.gd/aNUkkt . While by default much of this is already in place and operative what is left to Twitter is to enter into the necessary tie-ups & partnerships formally and find ways to monetize the whole idea.