It’s a difficult time for print media.
Analytics firm Enders predicts £1 billion ($1.3 billion) of revenue will disappear from the U.K. newspaper industry between 2011 and 2019. Last year was a particularly bad one for the U.K.’s print newspapers: The closure of Trinity Mirror’s New Day after two months, plus the Independent’s shutting its print edition are just two examples of mounting pressures facing the print industry.
Here’s a look at the state of print and online advertising in the U.K.
Display ads can’t plug the gap from falling print revenue
The narrative is a familiar one: Although digital display ad revenue is growing, it’s simply not enough to make up the losses from falling print ad revenue, mostly because print ad revenue is a larger piece of the pie.
A report from Enders Analysis from February predicts print ad turnover will fall from £1.5 billion ($1.9 billion) in 2011 to £533 million ($689 million) by 2019. Online revenue stood at £117 million ($151 million) in 2011 and is only forecasted to grow to £227 million ($293 million) in the next two years.
The report also states that print circulation has fallen, with tabloids The Sun and the Daily Mirror being hit the hardest.