Decline of a field, or simply bad timing?

Newspapers and newspapers publishers are no longer making as much money as they used to. This much is a known fact. Something that is consistently overlooked, however, is the fact that the majority of the decline in the newspaper industry occurred around the same time as the Great Recession of 2008. The newspaper industry wasn’t the only industry to take significant losses, as the economy as a whole tanked¬†and was at the lowest it had been since the Great Depression.

gdpr_revisions1

As we can see, the economy really stayed below where it was until about 2011, with the two lines shown above being the projections before and after new data concerning the recession was released to the public.

When looking at newspaper revenue, however, it doesn’t seem like the Recession was the only cause of the industry’s decline.

Screen Shot 2015-02-18 at 10.52.41 PM

While the U.S. economy started to recover, the newspaper industry continued to decline. Though the Recession certainly sped the process up, it seems like there’s no recovery for the industry.

Sources:

http://oregoneconomicanalysis.com/2011/07/29/gdp-revisions/

http://www.statista.com/statistics/184046/estimated-revenue-of-us-newspaper-publishers-since-2005/

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One thought on “Decline of a field, or simply bad timing?

  1. rebekahjoy94 February 19, 2015 / 4:58 am

    This is interesting. I always thought the decline was due to the digital age and the demand for digital material over print, causing many newspapers to close. In my head, I had attributed the economic loss of newspaper revenue due to an increase in technology, but your perspective on the economic status of the country and industry is fresh and interesting. Thanks for sharing!

    Like

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