Newsweek goes Exclusively Digital
Newsweek, a magazine that is among the most popular weekly news magazines in the country (beaten only by Time) since it was first published in 1933, announced on Oct. 18, 2012, that the magazine will be transitioning to an all-digital format at the beginning of next year available through a paid monthly subscription of $2.99, leaving behind the paper format that has been widely followed for nearly eighty years.
“It shows how commonplace technology is becoming, and how the paper-based industry for magazines and newspapers has been constantly shrinking,” said senior Yasseen Osman. “[Other publications will follow], especially as digital technology becomes more commonplace and it’s viewed as more profitable to focus on things like tablets, e-readers and smartphones.”
Similar types of transitions are becoming increasingly common, especially in the sphere of journalism. Time Magazine, for example, is still available in print, but is also available online in a variety of formats. The New York Times has become increasingly prominent online, offering all of their content on their website for a small subscription fee. The trend towards all-digital formats is no doubt aimed towards the millennial generation, which is growing up entirely accustomed to the convenience offered by the internet and smartphones. These publications undoubtedly realize the need to digitize.
“I think other [publications] will follow [Newsweek]. I don’t know how much longer they will have business; they may have difficulty to get revenue from an all-digital publication. The culture has been brought up thinking that things online should be free. It would be great if someone could figure it out,” said History teacher Scott Nilsen.
Newsweek’s transition is unique from its competition. In the sphere of weekly news magazines, Newsweek’s over 1.5-million magazines in circulation is nowhere near Time’s over 3-million issues in circulation, and Time has embraced the web without discontinuing their print edition. For several years, publications have been embracing the online format, but they have often added them alongside their print editions to appeal to all audiences. Newsweek’s shift suggests that print publications are falling out of favor, and it’ll be interesting to see if Newsweek is able to generate the same, or more, revenue after the transition in 2013.
“[The shift] might alienate older audiences who have always been used to print magazines and newspapers. It won’t come off as a shock to younger [re
aders], especially due to things like the Kindle, the Nook, eReader, and smartphones,” said Osman.
by Steven Chaffin