Whilst the end of the print edition of Newsweek was announced yesterday by its owners, effective December 31, comScore’s study aptly entitled “Tablets Reinvent Americans’ Relationship with Print” shows the sheer scale of the digital opportunities with nearly 40% of tablet owners reading “… newspapers and/or magazines on their device in August.” The even better news is that Magazines and Periodicals are more read than newspapers, in the case of Nook tablets by approaching 7%.
The Newsweek/Daily Beast press release through AP yesterday includes the following:
“The Daily Beast now attracts more than 15 million unique visitors a month, a 70 percent increase in the past year alone – a healthy portion of this traffic generated each week by Newsweek’s strong original journalism.
At the same time, our business has been increasingly affected by the challenging print advertising environment, while Newsweek’s online and e-reader content has built a rapidly growing audience through the Apple, Kindle, Zinio and Nook stores as well as on The Daily Beast. Tablet-use has grown rapidly among our readers and with it the opportunity to sustain editorial excellence through swift, easy digital distribution – a superb global platform for our award-winning journalism. By year’s end, tablet users in the United States alone are expected to exceed 70 million, up from 13 million just two years ago.”
So 70 million users 40% of whom read the likes of Newsweek at least monthly with 10% dipping in daily.
- And that’s just the US – total worldwide iPad sales are now likely over 100 million (as we will learn definitively next week). With all the new entrants this quarter it is certainly a well populated market!
- And that’s just tablets – with the new eReaders allowing us to read all day and all night there’s another huge device market.
- And then there’s all those smartphones.
So it’s not, in our opinion, all gloom and despondency, there’s a huge and growing market out there just waiting to be consumed!
Tina Brown (Editor-in-chief and Baba Shetty (CEO) discuss the digital only Newsweek decision.