International Finance
Business Featured

In last 3 years, 360 US newspapers go out of business: Survey

IFM_US Newspapers' closures-image
It has been reported that some 70 million Americans are living with zero access to the daily newspapers or with only one news publication.

The United States, one of the most powerful countries in the world is currently facing the biggest problem — US is witnessing its newspaper count dying at the rate of two per week with each passing day.

According to Northwestern University’s Medill School of Journalism, Media and Integrated Marketing Communications report there is a common tendency in the country, areas where people are not able to find a reliable source of newspapers, often tend to be older, less educated than those who are able to read the daily newspaper.

The report further stated that in 2005, the country had 8,891 newspapers which went down by 6,377 by the end of May 2022.

Around 360 newspapers have been shut down since the end of 2019 except for at least 24 of them being weekly magazines that are still serving the community.

The report further noted that about 75,000 journalists used to work in the newspapers in the year 2006, which has gone down to 31,000. Whereas the annual newspaper revenue has gone down from USD 50 billion to USD 21 billion during the same period.

As for the digital magazines they only cover the main news and focus on single issues. These magazines are made for big cities which helps in funding their company while the smaller towns are skipped.

According to the report, some 70 million Americans are either living with zero access to daily newspapers or with only one news publication.

What's New

IF Insights: EU talks tough at China on trade front, but at what cost?

IFM Correspondent

Off-plan homes in Dubai hit all-time highs in May 2024, cites report

IFM Correspondent

Start-up of the Week: Bloqhouse & the ‘all-in-one software solutions’ for investment industry

IFM Correspondent

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.