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Newspapers are the primary source of information about current events, politics, sports, entertainment, culture, health, etc. They are also the main vehicle through which companies advertise their products and services to consumers.
The newspaper industry has undergone several changes over the years. In recent times, digital media has challenged the profitability of the industry. Even though a number of newspapers are thriving, many others are struggling financially. Here are the current happenings in the Australian Newspaper Industry.
What’s Changing in the Australian Newspaper Industry
- Newspapers are becoming an expensive luxury for most consumers. People prefer to get news online from news websites like Google News, Yahoo! News, Live Leak, etc. A few decades ago, it was not easy to get access to all sorts of news on one website. Most people had to visit different websites as well to get all types of news.
- The rise in popularity of social media has made traditional sources of news (newspapers) obsolete. Consumers use Facebook or Twitter to gain information directly, rather than getting it from other people. If they want to find something out about some topic, they go to forums where they can ask questions and seek answers from other users with similar interests.
- Online advertising via search engines and social media platforms is growing at an alarming rate. Newspapers have lost their dominance in online marketing as compared to these platforms. For example, even if a person goes onto newspaper websites, he/she might be able to see only advertisements for the company that owns that site, as seen in many online casino platforms.
- The Internet allows people to get their news more quickly and efficiently. Many news providers offer live streaming of events so that people don’t need to wait until later to catch up with what happened, especially during big sports matches. This makes it much easier for readers to get updates and keep abreast of important developments.
How the Australian Newspaper Industry can cope with Changes
In order for the newspaper industry to continue prospering, it should embrace changes and adopt new technologies and ways to market itself instead of fighting against them.
It should make sure that its employees know how to take advantage of modern technology and that they can communicate effectively using such methods. Furthermore, it needs to focus on the long term viability of the business by investing in new innovations and ideas. This is so that it doesn’t become irrelevant any time soon.
Conclusion
As seen above, the Australian Newspaper Industry is undergoing numerous changes as it looks to survive. However, there remains a chance for it to thrive because it has managed to stay afloat despite the huge shifts in the media landscape.