Another blow to traditional print media, with the news that indicates readers are migrating from print to the Internet and as the 'rivers of gold' dry up, the only way is digital: Rupert Murdoch’s News Corp will write down the value of its Australian and US print publishing assets by up to $US1.4 billion.
Its not just iPads, low cost Tablets have dramatically expanded Internet access - they are read on the train, on the bus, in the smallest rooms, while watching TV
As the rival Fairfax Group, itself foundering under the same burdens, reports: 'News Corp is preparing to hive off its publishing assets as newspapers around the world face unprecedented challenges because of plunging advertising revenue and readers who increasingly prefer to read news on smartphones and tablets.
'Last quarter, News Corp reported a 35 per cent drop in (2013) operating income for its publishing division because of lower advertising sales at its Australian newspaper arm.'
Of course the move of audiences from print to online has been much more pronounced in the leisure magazine space and reality bites as print audiences shrink, as audiences move online so does the print media advertising revenue.
It was interesting to note that at one of this country’s most significant marine events, the 25th Sanctuary Cove International Boat Show, with 327 exhibitors, that the best known Sydney based marine magazine media group did not have its usual posse of journalists or photographers. They did have a couple of media sales reps there.
In contrast the TetraMedia Marine Group, with its larger global audiences, all online, across MarineBusiness-World.com, Sail-World.com, Powerboat-world.com and FishingBoating-world.com, was very visible reporting daily from the show.
We are currently planning to have our largest ever media contingent at the Sydney International Boat Show in the first week of August – some 16 staff, covering all aspects of the show, in the lead up to and during the event.
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