At least that is what publishing industry ‘watchers’ predict.
One early indicator of this transformation: Newsweek magazine is going digital-only at the end of this year and be renamed Newsweek Global. (I still don’t think print mags will disappear completely – they’ve had too much of a renewed growth and popularity – due, incidentally, to digital growth).
But, it’s the ‘going global’ thing with Newsweek — and how they’ve set it up — that I think is interesting.
TJ Raphael reports this in FOLIO magazine:
Newsweek To Cease Print Publication in 2013
Rebranded in a digital-only format called Newsweek Global.
Earlier this week at the American Magazine Conference, industry watchers speculated that most magazines will begin going digital-only by the end of the decade—that prediction seems to be coming to fruition sooner than expected, starting with today’s announcement that Newsweekmagazine will cease its print publication by the end of 2012.
After 80 years in print, the magazine will transition to an all-digital format, renaming itself Newsweek Global, and will become a single, worldwide edition targeted for a mobile audience. Newsweek has an Asian edition; a Business Plus edition; an edition for Latin America; Europe, the Middle East and Africa in addition to its U.S. publication, all of which will be consolidated into Newsweek Global.
A statement from the Newsweek/Daily Beast Company, signed by editor-in-chief Tina Brown and CEO Baba Shetty, says that Newsweek Global will be supported by paid subscription and will be available through e-readers for both tablet and the Web, with select content available on The Daily Beast.
“Regrettably we anticipate staff reductions and the streamlining of our editorial and business operations both here in the United States and internationally,” says an internal memo posted on the company’s Tumblr page. “More details on the new organizational structure will be shared individually in the coming weeks and months.”
According to the most recent Fas-Fax from the Audit Bureau of Circulations for the period ending June 30, 2012, Newsweek saw a 9.7 percent year-over-year drop in the number of single copies sold at retail, with total paid, verified and analyzed non-paid circulation dropping by 0.2 percent. In the last three years, its total paid and verified circulation has gone from 2,646,613 to 1,527,157, with single copies going from 64,866 to 42,065 during the same period. Ad pages, however, have been up by 2.5 percent year-to-date, according to Min Box Score numbers.