Irish newspaper readers will continue to pay for the print edition for the foreseeable future bucking the trend towards online content said Price Waterhouse Cooper (PwC) in a report issued on Tuesday, called Surviving in the 21st Century – the outlook for newspaper publishing in the digital age.
Ann O’Connell, of PwC Ireland said, “Ireland has a deep rooted traditional newspaper following and as a result the migration from print to online media is not expected to impact the sector to the same extent as other countries such as the U.S., where the newspaper industry is facing significant difficulties.
“It is likely that Irish consumers will for the foreseeable future, continue to place a significant value on the commentry and opinion provided by the well-established newspapers.”
Although the report suggests that the conventional newspaper industry will remain stable for the time being in Ireland it suggests the global newspaper industry is in a state of turmoil.
“The global newspaper publishing industry is in a state of turmoil as advertising revenues plummet, broadband penetration increases and a plethora of new devices for delivering digital content hit the marketplace. However, through this period of uncertainty those in the industry who embrace the challenges of a changing marketplace will survive,” PwC said in a statement.
“The issues being faced by local/regional newspapers is a mixed picture internationally. In the U.K., closures have been widely reported with regional newspaper groups lobbying for a relaxation to the current competition law relating to mergers which they feel is no longer relevant.”
In the U.S. radical changes have taken place with some established newspapers changing their entire output to internet only sources. Other publications had embarked on major cost cutting exercises in order to tackle dropping advertising revenue and fewer subscriptions.
PwC says that Ireland bucks the trend at least for now, with newspaper readers willing to pay for established newspaper columnist’s opinions and analysis of current affairs. However, Irish publications are facing major issues related to the recession as advertising revenues are dropping rapidly.
The move to exclusively using the internet as a source of news is hindered by the fact that the digital formats currently on the market do not appeal to newspaper readers and most are unwilling to pay for news read on the internet. Despite this,the report states that publications that have been quick to adopt new technolgies have “secured online audiences beyond their traditional print readership.”
Ann O’Connell, of PwC Ireland said, “Ireland has a deep rooted traditional newspaper following and as a result the migration from print to online media is not expected to impact the sector to the same extent as other countries such as the U.S., where the newspaper industry is facing significant difficulties.
“It is likely that Irish consumers will for the foreseeable future, continue to place a significant value on the commentry and opinion provided by the well-established newspapers.”
Although the report suggests that the conventional newspaper industry will remain stable for the time being in Ireland it suggests the global newspaper industry is in a state of turmoil.
“The global newspaper publishing industry is in a state of turmoil as advertising revenues plummet, broadband penetration increases and a plethora of new devices for delivering digital content hit the marketplace. However, through this period of uncertainty those in the industry who embrace the challenges of a changing marketplace will survive,” PwC said in a statement.
“The issues being faced by local/regional newspapers is a mixed picture internationally. In the U.K., closures have been widely reported with regional newspaper groups lobbying for a relaxation to the current competition law relating to mergers which they feel is no longer relevant.”
In the U.S. radical changes have taken place with some established newspapers changing their entire output to internet only sources. Other publications had embarked on major cost cutting exercises in order to tackle dropping advertising revenue and fewer subscriptions.
PwC says that Ireland bucks the trend at least for now, with newspaper readers willing to pay for established newspaper columnist’s opinions and analysis of current affairs. However, Irish publications are facing major issues related to the recession as advertising revenues are dropping rapidly.
The move to exclusively using the internet as a source of news is hindered by the fact that the digital formats currently on the market do not appeal to newspaper readers and most are unwilling to pay for news read on the internet. Despite this,the report states that publications that have been quick to adopt new technolgies have “secured online audiences beyond their traditional print readership.”
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