As you all most probably know by now, Fairfax is undergoing a major restructuring of its papers and business where 1900 jobs are reportedly going to be cut.
The first major change mentioned this week is to transform from print based into a digital three of Fairfax’s major papers, The Sydney Morning Herald, The Age in Melbourne and The Canberra Times.
According to the Macquarie Group, analysts estimate the print editions of the three above publications are actually loss-making.
This has caused much confusion and speculation from editorial staff, as this restructuring will ultimately mean major redundancies. This uproar has led to many people commenting on the issue and many protesting against the issue of losing print media.
According to author A.T Faust III, he states that in recent years, through the initial propagation of portable e-readers and the current tablet wave in its wake, physical magazine and periodical sales have taken a substantial and continuing dive.
Here, at Little Marketing as small business marketing consultants we are inclined to agree with this statement but wish it wasn’t the case.
With such rapidly evolving technology and a need for convergence media to grow by consumers, it seems that print media is inevitably slowly dying.
As marketing consultants in Sydney I am sure we will have more to discuss on this topic as this topic evolves.