Digital media has seen a rise in the past decade gradually replacing traditional forms of tangible media. It is now the majority of people choose digital media as their preferred medium. Industries that are impacted by this development include newsprint as well as recorded music, movie production and book publishing. The major players in these fields are experiencing a shift in their requirements and becoming more flexible in their the financial ramifications of their products and offerings. But, the impact of this new trend is not limited to the companies directly affected. It is affecting all of us, having a very real effect on the economy as all.
There is no printing industry has been affected by new technology as much as the newsprint sector in the printing business commercial. Between 1997 and 2007, newspaper circulation declined by 164.5 million down to 149.5 million. Did the American populace simply lost interest in news? The contrary the number of news readers (regardless of the medium) increases each year. The reality is that more and a lot of readers are opting to satisfy their desire for news using alternate sources, primarily the internet.
While newspaper circulations have continued to decline, USA Today – the most read newspaper within the U.S. – reported in May 2009 an increase of 12% over the previous year’s growth in traffic for its online version of the newspaper, USATODAY.com. Pages viewed overall had grown by 75 percent. Rupert Murdoch, owner of The Wall Street Journal and other major publications, has said that print newspapers will be gone in 20-30 years, to be replaced by digital news formats.
The growing trend of using the internet for information has already pushed several of the biggest print news sources into bankruptcy circumstances. It is widely believed that in the coming years, other large print news publishers industry will face similar challenges, leading to an eventual shift to digital-only version of the publications. The result of this would cause the shuttering of printing facilities across the country. Visit:- https://digitalnews.dk/
Recorded Music Production
Recorded music is also moving towards a market that is predominantly digital. The current market for music, as news, is on a record high. Like news, consumers are increasingly choosing digital sources, primarily the internet, as their go-to site for listening to music. The business of digital music grew to 25% in the year 2008, reaching 20% of sales for recorded music (up from 15% for 2007). Meanwhile, music sales on CDs have been steadily decreasing (down 20 percent in the first three months of 2007 on its own). In the first half of 2009, it was revealed that CDs accounted for only 65percent of the music sold, and industry experts believe that by the year 2011 the sales of digital music will surpass sales of CDs.
This is certainly beneficial for companies like Apple iTunes and Amazon.com, which are among the top two choice for people who want to purchase music downloads. But CD producers face the reality of a market that simply does not seem to be a fan in the same way anymore. Certain CD production facilities in the U.S. have shut down operations and have sold millions of dollars worth production equipment at a significant discount to international manufacturers.
Film Production Recorded
Two of the latest digital shifts have taken place in the recorded film and book publishing industries. While online downloads of films as well as cable pay-per view and on-demand content are still significantly outweighed by their physical counterparts, U.S. consumers’ demand for the new digital wave is mirroring that of the music and news industries. In 2008, sales and rentals of DVDs and Blu-ray discs decreased by 5.7 percent in comparison to online sales, and rentals rose by 73 percent. This trend is expected to continue, and will result in an ultimate decline in industry revenue of 6 percent for 2009.
Contrary to the recording business, the rental and sales of Blu-ray discs and DVDs are not in imminent danger of being replaced by sales and rentals of digital films. However, it’s possible that, in the coming years, the tipping point will be reached as consumer demands continue to change.
Digital version of books is increasingly available from online retailers like Amazon.com or Barnes & Noble. Based on The Association of American Publishers the number of sales of electronic books in June 2009 jumped 150% from June 2008 and surpassed 12 million. The Los Angeles Times reported that a survey conducted online indicated that one-in-five shoppers intended to buy an electronic book reader last Christmas season. As the e-book phenomenon heats to the surface, publishers of book are suffering the consequences of this digital shift. While book retailers are able adapt to changes in the market by offering digital versions of books However, a different option isn’t as easily available to book publishers. Publishing (printing) companies are facing the same financial challenges that news printers are facing.
It is a fact that it is much more profitable for companies to offer the digital version of their goods rather than the traditional, physical versions. Overall, a very noble battle is being waged in order to adapt to changing consumer demands. But stalwarts of these industries, despite their continuing efforts, are being confronted with a financial crisis that is causing tangible effects such as the elimination of thousands of jobs as well as the obsolescence of billions of dollars worth of production equipment.