The ongoing shrinking of the old media industry and business model has resulted in the elimination of 33,000 newspaper jobs, and now, even big, new-age, digital outlets are facing pressure, according to a new analysis.
The Pew Fact Tank report is the latest portrayal of the difficulties faced in the news business and the reality that the explosion in online media has fallen far short of making up for the job losses in newspapers and magazines.
The worst news for the industry is that from 2008-2018, 33,000 newspaper jobs were axed.
And overall, “newsroom employment in the U.S. dropped by 25% from 2008 to 2018, a decrease driven by newspapers.”
The growth in digital media included lots of hiring, but fell far short of compensating for the newspaper losses. Pew said that “digital-native” news publications added 6,100 jobs.
Promising, yes, but it added that larger outlets have been suffering through recent job cuts.
“Among the largest digital-native outlets — those with a monthly average of at least 10 million unique visitors — 14% went through layoffs in 2018 and 20% did the year before. Nearly all the digital-native news outlets that laid off staff in 2017 or 2018 cut more than 10 employees,” it said.