How UK newspaper industry passed its ‘pandemic stress test’ – Press Gazette
The newspaper industry was already considered beleaguered when the Covid-19 pandemic began in 2020, and the economic and social disruption it soon brought threatened to finish them off. Predictions had been made for decades that new media would soon kill off printed news. First it was radio in the 1920s, then television in the 1950s, and finally the internet in the 1990s, but newspapers proved adaptable and resilient.
By the early years of the 21st century, most were highly profitable. National newspapers no longer sold millions of copies a day, but copy sales were never what drove their profits. Advertising was what had filled the coffers of press barons from the days of Northcliffe and Kemsley, and with the rise of mass marketing it grew after World War II into a long-lived bubble.
In the internet age, however, websites began to siphon off their rich advertising revenues. Classified ads were the first to go, as specialised sites for homes, autos, and situations vacant offered…
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source: https://news.oneseocompany.com/2022/12/08/how-uk-newspaper-industry-passed-its-pandemic-stress-test-press-gazette_2022120837233.html
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