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Media and Entertainment

The Industry Today

Digital content and social media have helped to transform the media and entertainment industry into an “always on” and always accessible business. Consumers have more options than ever before in how they read books and articles, rent movies, listen to radio programs, and watch TV. Magazine and newspaper publishing companies have been most affected by the widespread availability of online content. The Pew Research Center reported that in 2018, U.S. daily newspaper circulation, for print and digital combined, was 28.6 million, a dramatic drop from the 60 million subscriptions in 2000. Digital-only subscriptions has grown somewhat in recent years but is difficult to track, according to Pew, which stated, "Though some national publications have seen growth in revenue and in digital subscriptions..., the newspaper sector overall continues to face challenges." Publishers such as the New York Times and Gannett have raised their print subscription rates to compensate for the drop in circulation, and many also offer bundled subscription packages in which subscribers receive print publications and also have access to digital platforms.

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