Media Companies to Continue Shift to Digital Offerings
As media companies enjoy rising sales during the economic recovery, they are mindful of the huge technology disruptors that have taken place in their industry. In every sector of traditional media, senior managers are attempting to give their companies a foothold in the new digital landscape. The State of the Media report from Vocus indicates that some sectors are finding more success than others.
According to the Vocus report, traditional newspapers continue to struggle with bureaus closing and layoffs being announced. But forward looking newspapers are turning to social media and regularly use their Twitter and Facebook accounts to engage readers. Vocus analysts note that a net gain of 1 print magazine was recorded in the 2nd quarter of 2011. The better news is that magazines are focusing on their apps. Whether they charge or roll out their apps for free, the move represents experimentation to see what will work in the face of the shrinking audience for print. In addition, magazine owners launched 17 online-only magazines recently.
Two major developments have been noteworthy in the TV industry. More stations are streaming live on the Web. And they are also producing more “news and talk programs for digital subchannels.” As local network stations are also producing and releasing reports digitally, they’re also encouraging interaction with the audience via Facebook and Twitter. Analysts did not report on significant numbers of TV or radio stations opening or closing in the 2nd quarter 2011. However, both formats are catering to new audiences by providing specialized digital content.
As traditional media companies experiment with new media, there will be successes and failures. But the good news is they’ve recognized they must make changes to ensure that future revenue growth comes their way.[Source: Media Blog. State of the Media: Q2 2011. Vocus.com. 13 Jul. 2011. Web. 18 Jul. 2011]