Newsweek to cease print, go digital-only in 2013

BIV

I'm Biv Dick Black, the Over Poster.
Apr 22, 2002
79,197
27,688
898
Seattle
#1
Newsweek to cease print, go digital-only in 2013

(Newsweek)
After years of losing money, Newsweek announced on Thursday that it will stop printing its magazine and become a digital-only publication.
"Newsweek will transition to an all-digital format in early 2013," editor Tina Brown wrote in an email to employees early on Thursday. "As part of this transition, the last print edition in the U.S. will be our December 31st issue."
The new all-digital publication, called Newsweek Global, "will be a single, worldwide edition," Brown wrote. The e-magazine will be supported by paid subscriptions and made available for e-readers for both tablet and the Web, with some content available on The Daily Beast.
More from Brown's email:
We are transitioning Newsweek, not saying goodbye to it. We remain committed to Newsweek and to the journalism that it represents. This decision is not about the quality of the brand or the journalism, that is as powerful as ever. It is about the challenging economics of print publishing and distribution.
The inexorable move to an all-digital Newsweek comes with an unfortunate reality. Regrettably we anticipate staff reductions and the streamlining of our editorial and business operations both here in the United States and internationally.
In 2010, the Washington Post Company sold Newsweek to audio equipment magnate Sidney Harman for $1 plus the assumption of the magazine's estimated $40 million-plus debt.
Later that year, Harman struck a deal with Brown, editor of The Daily Beast, and Barry Diller's InterActiveCorp (IAC) to run the business. Harman died in April 2011 at 92, leaving his ownership stake to his estate.

In July, Harman's family said it would no longer invest in the 79-year-old magazine, leaving Diller and the Beast in full control. During a conference call with investors several weeks later, Diller hinted that the newsweekly—with a circulation of 1.5 million—would soon be a digital-only publication.
"The transition to online from hard print will take place," Diller said. "We're examining all of our options. ... The brand is good. What's the problem? The problem is manufacturing and producing a weekly newsmagazine. That's going to have to be solved. Advertising in this category is entirely elective. The transition will happen."
IACwhich also owns Match.com, Ask.com and CollegeHumor.comgenerates most of its revenue from digital properties.

According to Bloomberg.com, Newsweek is projected to lose as much as $22 million this year. In 2011, ad pages for Newsweek fell 16.8 percent, according to the Publishers Information Bureau—a dismal year following an even worse 2010, when ad pages plummeted nearly 20 percent.
Since taking the reins, Brown, former editor of Vanity Fair and the New Yorker, has put her stamp on Newsweek. She has produced controversial print covers (imagining what Princess Diana would have looked like at 50, for instance, or declaring Barack Obama to be the "first gay president") in a bid to prop up newsstand sales, create buzz and be part of what she likes to call "the conversation."
According to the Audit Bureau of Circulations, those efforts proved futile, at least at the newsstand. Through June, Newsweek's single-copy sales were down 10 percent compared with the first half of 2011, selling an average of 42,065 copies per issue.
http://news.yahoo.com/blogs/lookout/newsweek-print-digital-125249313--finance.html
 
Dec 8, 2004
49,454
21,277
693
Maine
#3
The e-magazine will be supported by paid subscriptions and made available for e-readers for both tablet and the Web, with some content available on The Daily Beast. - Good luck with that. There is a local paper that gives you 10 premium clicks per week. I just block the script that keeps count.
 
Feb 5, 2003
5,565
927
753
With a stranger
#4
People aren't willing to pay for a physical copy of Newsweek that's tailored to the country in which they live, but they think people will pay to get it online after they convert it to one global edition when there are plenty of places online where they can get news for free? I predict it being shut down entirely by the end of 2013. After all, it's not like doctors are going to leave iPads and Kindles laying out in their waiting rooms so people can read Newsweek.
 

Party Rooster

Unleash The Beast
Apr 27, 2005
40,284
7,454
438
The Inland Empire State
#5
People aren't willing to pay for a physical copy of Newsweek that's tailored to the country in which they live, but they think people will pay to get it online after they convert it to one global edition when there are plenty of places online where they can get news for free? I predict it being shut down entirely by the end of 2013. After all, it's not like doctors are going to leave iPads and Kindles laying out in their waiting rooms so people can read Newsweek.
This. RIP Newsweek.
 

Begbie

Wackbag Generalissimo
Jul 21, 2003
18,065
5,476
838
Wilmington, NC
#9
Hmm...I think it's time for a bailout, whaddasay peoples?! Come on, Obama...$50B to Newsweek and other mags (hint hint Rolling Stone...free money if you post more bullshit progressive drivel) to continue their print editions!! Because that's what America wants.

The end for print publishing is near. As the older generations die off, so go their subscriptions. It's just so much easier these days to just get your news for free online.

When the iPad first came out...I thought Apple was nuts. Who the fuck would want an oversized cell phone that can't make calls? Well, until I got one (not iPad, I can't afford those overpriced beasts), I quickly found out. It's a GREAT reader. Get your news, read your books, send email. You're not pulling out the big laptop...and you're not having to wait for the paper to get thrown on your lawn in the pouring rain...then having to fumble through the pages getting ink all over your fingertips. Then does it get tossed in the garbage when you're done...or are you the type of person that bundles them together in your garage every week...ties them together with string and carries it out to the curb on garbage day? Younger people, and I'm talking younger than say, 65...are adapting to digital readers/tablets/etc. Newspapers and magazines are growing extinct, and now they've got to figure out how to compete with free news available online. It's proving to be not an easy task. I think local news companies will do just fine, because people do want to hear what's going on locally or statewide. Problem is, you can still get that for free from various places online...like for example, local TV news affiliates who are not only posting their articles online, but also posting episodes of their broadcasts online for free.

This is a part of the reason how I got laid off from my job. Among other jobs, we printed and bound those little BCBS insurance booklets and made a killing because BCBS would send alot of those books out in the mail to their customers. You don't really get them anymore because BCBS decided out of the blue, that they'll make a digital copy available online for their customers, and not bother sending the welcome kits and booklets out, unless the customer requests it. It's easier for their customers and it's easier and cheaper for them. They can also say that they're "going green!" which always makes a nice headline. I'd really hate to be in the print industry now.
 

Party Rooster

Unleash The Beast
Apr 27, 2005
40,284
7,454
438
The Inland Empire State
#11
Hmm...I think it's time for a bailout, whaddasay peoples?! Come on, Obama...$50B to Newsweek and other mags (hint hint Rolling Stone...free money if you post more bullshit progressive drivel) to continue their print editions!! Because that's what America wants.

The end for print publishing is near. As the older generations die off, so go their subscriptions. It's just so much easier these days to just get your news for free online.

When the iPad first came out...I thought Apple was nuts. Who the fuck would want an oversized cell phone that can't make calls? Well, until I got one (not iPad, I can't afford those overpriced beasts), I quickly found out. It's a GREAT reader. Get your news, read your books, send email. You're not pulling out the big laptop...and you're not having to wait for the paper to get thrown on your lawn in the pouring rain...then having to fumble through the pages getting ink all over your fingertips. Then does it get tossed in the garbage when you're done...or are you the type of person that bundles them together in your garage every week...ties them together with string and carries it out to the curb on garbage day? Younger people, and I'm talking younger than say, 65...are adapting to digital readers/tablets/etc. Newspapers and magazines are growing extinct, and now they've got to figure out how to compete with free news available online. It's proving to be not an easy task. I think local news companies will do just fine, because people do want to hear what's going on locally or statewide. Problem is, you can still get that for free from various places online...like for example, local TV news affiliates who are not only posting their articles online, but also posting episodes of their broadcasts online for free.

This is a part of the reason how I got laid off from my job. Among other jobs, we printed and bound those little BCBS insurance booklets and made a killing because BCBS would send alot of those books out in the mail to their customers. You don't really get them anymore because BCBS decided out of the blue, that they'll make a digital copy available online for their customers, and not bother sending the welcome kits and booklets out, unless the customer requests it. It's easier for their customers and it's easier and cheaper for them. They can also say that they're "going green!" which always makes a nice headline. I'd really hate to be in the print industry now.
Wow. I can't believe VMS spelled BCS wrong. Twice. :cool:
 

d0uche_n0zzle

**Negative_Creep**
Sep 15, 2004
46,848
6,935
763
F.U.B.A.R
#12
Time and Newsweak have been nothing more then week old propagandist.

Good riddance to their turgid rubbish.
 

Party Rooster

Unleash The Beast
Apr 27, 2005
40,284
7,454
438
The Inland Empire State
#17
The end for print publishing is near. As the older generations die off, so go their subscriptions. It's just so much easier these days to just get your news for free online.
Actually, the newspaper I work for is aggressively targeting a younger demo. And it's paying off. Circulation numbers have bounced back a bit from where they were a few years ago, especially on Sunday. That's pretty huge considering the state of the economy in California and advertising in general the last few years.

When the iPad first came out...I thought Apple was nuts. Who the fuck would want an oversized cell phone that can't make calls? Well, until I got one (not iPad, I can't afford those overpriced beasts), I quickly found out. It's a GREAT reader. Get your news, read your books, send email. You're not pulling out the big laptop...and you're not having to wait for the paper to get thrown on your lawn in the pouring rain...then having to fumble through the pages getting ink all over your fingertips. Then does it get tossed in the garbage when you're done...or are you the type of person that bundles them together in your garage every week...ties them together with string and carries it out to the curb on garbage day? Younger people, and I'm talking younger than say, 65...are adapting to digital readers/tablets/etc.
Companies that embrace the new technology will be the ones that survive.

Newspapers and magazines are growing extinct, and now they've got to figure out how to compete with free news available online. It's proving to be not an easy task. I think local news companies will do just fine, because people do want to hear what's going on locally or statewide. Problem is, you can still get that for free from various places online...like for example, local TV news affiliates who are not only posting their articles online, but also posting episodes of their broadcasts online for free.
How some newspapers are rebranding themselves, especially in smaller markets:
* Increased coverage on local news and events. Let the big boys fight over the national stories.
* Focusing on high school sports. Parents love when their kids' school gets mentioned in the newspaper, bonus points if a kid they know gets mentioned and extra bonus points if it's their own. They're directly exploiting today's Helicopter Parents.
* Coupons, coupons, coupons. Shows like the TLC's extreme couponing have spawned a whole new segment of the population who can be targeted. They've made it "cool" to coupon where it used to be a stigma to use one at a merchant. For a few dollars a month they can be sold on the idea that they'll recoup their investment through not only grocery store coupons on Sunday, but national and local merchant coupons and discounts throughout the week.

This is a part of the reason how I got laid off from my job. Among other jobs, we printed and bound those little BCBS insurance booklets and made a killing because BCBS would send alot of those books out in the mail to their customers. You don't really get them anymore because BCBS decided out of the blue, that they'll make a digital copy available online for their customers, and not bother sending the welcome kits and booklets out, unless the customer requests it. It's easier for their customers and it's easier and cheaper for them. They can also say that they're "going green!" which always makes a nice headline. I'd really hate to be in the print industry now.
There's been a huge consolidation in the print industry. Our printing facility prints just about every local newspaper from San Diego to L.A., and it even prints the "local edition" of the L.A. Times.

Two of my uncles were pressmen for 30 years and both retired in the mid-2000's, just in time. Another industry the unions helped kill. They were making almost $40 an hour for pushing a few buttons and sitting around playing cards waiting for a printing press to occasionally jam or fuck up printing.