GLOBAL – UNITED STATES, OCTOBER 24, 2012 – As the rest of print media presses on to fight against the industry’s death, Newsweek is nailing in the coffin of its 80-year print history.
Newsweek has announced that it will be transitioning to an all-digital format in early 2013, with the last print edition in the United States to be published on December 31.
The all-digital publication will be named Newsweek Global, targeting the "highly mobile, opinion-leading audience who want to learn about world events in a sophisticated context".
A memo from the editor-in-chief, Tina Brown, blames the "challenging print advertising environment", but banks on a "rapidly growing audience" among digital users.
Cynics believe Newsweek‘s move may just be "a commentary on its owns problems".
Data from eMarketer estimates a 2.6% growth in ad revenues for US magazines from 2011 – the third increase in three years. Print ad revenues are expected to increase marginally to $15.19 billion in 2012 from $15.15 billion in 2011. In the same period, digital ad revenues are expected to grow to $3.14 billion from $2.72 billion.
According to MediaFinder, the number of new magazines launched in the first half of 2012 outnumbered closures. There are 181new magazines on food, home, B2B and other interests introduced to the market, while only 61 titles closed.
