What Killed the Newspaper Star?
Anyone who hasn’t realized the growth that mobile has experienced or the shift in behavior that has occurred on a global scale must be living under a rock with no cell phone coverage. Just like DVR’s are making traditional television commercials less and less valuable, cell phone are changing businesses in good ways and bad ways.
Take the newspaper industry. The first hit came when Craigslist came alive in 2000 and took away a huge chunk of revenue from classified ads. Now with more and more people accessing information on their smartphones advertisers are choosing to spend their money where people are, and it’s not on print media. Take a look at this graph from Social Media Today:
Of course this decline will continue as more and more people access news online instead of newspapers and those people use a smartphone to read it. It has already been reported that more people get their news online than newspaper and trends show that by the end of this year, over half of Americans will have a smartphone.
The internet may have started digging the grave for newspapers but cell phones will not only place them in their coffins, they’ll nail them shut!