Over the past few years mainstream news publications and newspapers have either had to adjust to a new world of media or find themselves in deep financial trouble. Most of the outlets (with some exceptions) have been smaller vertical or regional outlets, but a new media landscape affects everyone, not just the small guys. Two media outlets – or more specifically, magazines – have been the face of U.S. and world news, but are now being forced to adjust.
After being published from 1933 to 2012, Newsweek became digital-only, and now only published online and to their mobile application. The editors news chose a last print cover symbolic of its old and new world, combining the black and white look of its Manhattan offices with a hash tag – showing what was instrumental in forcing the company to forgo paper and focus on driving online traffic instead.
Competing with Newsweek every step of the away (and by many considered a small step above its competitor), Time Magazine just recently found itself in a new position. According to The Wall Street Journal,
Under the proposal being discussed, Time Warner would retain its flagship newsweekly Time, along with Sports Illustrated and Fortune. But the rest of its magazines, including People, InStyle and Real Simple, would end up combined with Meredith’s titles, which include Better Homes and Gardens and Family Circle, whose readers are mainly women.
The deals that may soon happen could signal more changes to the media landscape as publishers look to maintain and expand profits. While print advertising has long been the main source of revenue for these media businesses, the time is finally coming where online revenue can be effective. Newsweek has already figured it out, and the ‘time’ is coming for Time Warner and others to do the same.