The sale of newspapers is shrinking globally. Sensing this, the newspaper giants such as The Times Group, Hindustan Times, The Telegraph, etc. have been adapting to the evident shift to the digital readership. These newspapers have their digital auxiliaries existing together with their print editions to cover all kinds of readers across the country. Not only this, but the major publications have also expanded into delivering more services to their readers such as podcasts, videos, YouTube channels, Webinars, etc. to keep their audience readership intact.
With the palpable metamorphosis of the traditional print media heavyweights, the dependence on the older models to generate revenue also saw a drastic change. This is a direct consequence of the digital revolution brought forth in the country during the last few years. With easy and ready access to the Internet, This automatically meant that the viewers got more attracted to the AV-based content. Other than this, experiments with the latest technologies by the print media giants such as AR-based content, AI (Artificial Intelligence), ML (Machine Learning), Interactive videos, etc have been shifting the dynamics of the publishing industry.
Furthermore, The silver lining of a revivification of the print industry was crushed by the onslaught of the COVID-19 pandemic. The lockdown in India dealt a severe blow to the printing presses as they either halted their operations or worked with a lesser number of employees. As a result, the traditional print industry is going through a tough time in its fight to keep the same hold in the market. Besides this, the rumors of the spread of the dreaded virus through newspapers also brought many newspaper companies fighting to generate ample ROI for their subsistence.
As per a study, during the lockdown period website visits and mobile application downloads increased considerably. Additionally, the month of March alone saw the increase of around 453% in the usage of news apps, according to a study by InMobi Insights.
However, print media companies could take this opportunity to change their impact in the digital age. Although in these demanding times, to build traction to this dwindling industry, the print media giants have to come up with new and innovative ideas to retain the loyalty of the readers and reinvent their approach in the post-COVID world.