Dead Press!!

Dead Press!! 

With the Social Media Booming the past few years there was no doubt that a big chunk of the advertising expenditure would be diverted on this type of media. The reasons behind the big shift are too many.

The fact is that marketers see that advertising on Social Media and engaging customers with the brand in so many creative ways pays off! It pays off so well that they divert  more and more of their budgets from traditional media to the On-line Media and Social Media platforms.

The biggest hit on traditional media is probably on newspapers. The www.emarketer.com study on October 2012 revealed some impressive data on how things are shaping. Newspapers in the U.S. lost 31.5% of ad share the past 4 years! Newspapers have been unsuccessful in attracting readers under the age of 55 and the percentage of readers has fallen to 23% from 41% in 2002.

The same thing is happening around the world , perhaps in different pace or time but its happening. In Cyprus the rise of Social Media especially the past 1.5 years has brought many newspapers in a difficult position. On-line Media and Social  Media have taken over a big part of the advertising expenditure as well. Targeting the right audience through SM is easy and the cost of engaging with the audience and advertising is much lower than a once off advert on a Newspaper most of the times.
 

So what's left for newspapers to do? Those who have gone successfully into the digital era and capitalized on their expertise providing valuable content and attractive prices to their customers to advertise will survive and probably thrive. The ones who have not make the big step yet will surely fail. The future is changing rapidly. In a few years perhaps all that is left for most of the Newspapers (if not all) will be to continue operations On-line for ever!!