The print media industry has changed drastically with the growth of the Internet, as digital platforms are gaining popularity, while print newspapers are losing audiences. This has forced most print media houses to lay off staff and change their strategies to incorporate digital platforms that generate high ad revenues.
Some newspapers have changed their printing schedules to three days a week, citing the reduced print ad revenues. Many newspapers have launched pay plans for the digital editions of their print newspapers, which has increased subscription rates and digital ad revenues. Most newspapers are struggling to maintain digital platforms by acquiring the technology to create reader-friendly sites that attract readers. Newspapers are focusing on creating digital platforms, including providing content that is optimized for smart phones and tablets. Mobile devices generate a fraction of digital ad revenue as compared to desktop or laptop browsing, but they can increase digital subscriptions.
Print and digital editions of newspapers are expected to co-exist for much longer. Many newspapers are being acquired by new owners who believe that the print media has potential for future growth. For example, Warren Buffet acquired the Omaha World Herald in 2011.
Some newspapers are cutting costs by moving from expensive downtown offices to cheaper locations, while others are renting out excess space. Some newspapers are struggling with pension obligations and long term leases.