Traditional Media Continue Decline

Last week the Audit Bureau of Circulation released its latest statistics on the health of newspapers across the country. Unfortunately, like the report from last fall (which posted declines of 2.6%), the circulation numbers are not good and continue to decline.

The report found that the paid weekday circulation of some 530 newspapers across the U.S. fell 3.6%, with only two publications in the Top 25 — USA Today and the Wall Street Journal (have I ever mentioned that’s my favorite paper ?) — posting gains.

Biggies like the New York Times fell 3.9%, and the Los Angeles Times fell a staggering 5.1%.

Just today, I read where the Myrtle Beach Sun Times and the Lexington (KY) Herald-Leader offered employees buyouts. Newsweek did the same a few weeks ago, and Time also recently let go some 100 employees. I also had a conversation recently with an editor at the Charleston (SC) Post & Courier who noted they currently had a part-time employee filling a previously full-time position with no plans to change that and that they were generally short-staffed.

Whenever I’m out speaking about why companies should engage Web 2.0 tools, I always list the declining impact of traditional media as a reason. Fewer and fewer people are paying attention. And I’m always asked: Do you think newspapers will cease to exist?

No, not any time soon. There is still a place for a hand-held paper amongst my generation and older; however, traditional media is going to have to readjust and find its place in the new Internet-driven world. It is not so different from when TV news came to the forefront and afternoon papers went under. They have to adjust and they are working hard to extend their Internet presence and meet readers where they want their news. It will be interesting to see how the chips fall.

What do you think? Will newspapers be a thing of the past?