The cornavirus pandemic has devastated the print publishing world. We explore the continuing trends that have seen many traditional print publishers turn to digital in a bid to survive.
The pandemic has had a disastrous impact to all facets of life in the UK. We’ve all felt the impacts, from government restrictions on social interactions to the UK economy falling into recession.
In our corner of publishing, we’ve witnessed sweeping industry changes. Especially in the print sector which has been besieged by the pandemic. Supply chain issues, the lockdown and a major behavioural shift in working patterns have combined to create a significant decline in readership, print sales and advertising revenue.
Traditional print publishers of magazines, catalogues and newspapers are now exploring digital for the first time in a bid to survive the onslaught. This shift is off the back of a huge surge in readership moving online.
We take a closer look at these trends as the publishing industry continues to make a significant shift from print to digital distribution.
Print publishing stats make for painful reading
Looking at figures over the past six months would turn even the most stalwart businessman a nasty shade of green. National newspapers have been hardest hit. Experiencing a significant decline in readership and circulation figures caused by an apparent behavioural shift triggered by the coronavirus pandemic.
Last year, Metro’s circulation was 1.5 million copies a day. At the height of the lockdown in April 2020, it fell as low as 400,000 copies per day. A decline of almost 75%.
Meanwhile, The Guardian’s effective turnaround strategy, put in place over three years was dismantled in the first three weeks of the lockdown. With their last six months’ revenues mpw estimated to have declined by almost £20 million.
Traditional print publishers are exploring digital for the first time
Many magazines, catalogues and newspapers are now exploring all new digital mediums to avoid financial collapse.
Satya Nadella recently commented on how corporations have been impacted by the pandemic. He went on record to say “Microsoft has seen two years’ of digital transformation in two months” when talking about the changes needed to shift to home working.
By Emily Byrne, YUDU