Monday, February 1, 2010
Prediction #2: Print newspapers and magazines will continue to struggle in 2010
Print newspapers and magazines will continue to struggle in 2010, and more will consider shutting down or transitioning to online-only, despite a (slower than we'd like) recovering economy. Although the number of magazines that shut down peaked in 2008, at 525, last year said goodbye to 360 magazines, including some major magazines like Gourmet, Metropolitan Home, Fortune Small Business. Last year also saw the deaths of major daily newspapers like the Rocky Mountain News and Seattle Post-Intelligencer as well as dozens of smaller papers. Large newspaper companies also announced bankruptcies last year, and we expect more closings in 2010. There is some good news: advertising pages may be increasing, according to Q1 projections, but only by 3 percent. However, print subscriptions continue to decline, and we expect newsroom layoffs to continue. The lesson: magazines from big publishing companies and significant circulations were not immune. Already, BusinessWeek SmallBiz announced (via postcard) that its Dec. 09/Jan. 10 issue was its last.