Pew's annual report on the state of the media is out this morning. There's tons of cool data and charts in it but these two stood out to me -- as they tell the story and struggle of legacy journalism organizations (like the Washington Post, the New York Times etc.) in a stark and compelling way.
The first chart shows the ongoing slide in print newspaper circulation.
What those trendlines suggest is that the decline in print circulation numbers that began a decade ago looks like the rule and the boom during 2012 and 2013 looks like the exception -- as opposed to the other way around.
The second chart is even scarier for media organizations built on the pillar of print. This shows where ad revenue for newspaper organizations has come from since 2003.
You'll notice two things. First, that ad revenue from print is eroding badly. Second, that ad revenue from digital isn't growing anywhere close to fast enough to make up for the print slide.
The problem is apparent: Print circulation is on what I would guess -- and most industry analysts would agree -- an irreversible slide downwards. But, the rise in consumption of digital journalism has not been matched by a similar rise in digital ad revenue.
So: Less people getting the print product. And not-even-close to enough more money being made from the digital product.
What's the solution? More native advertising? Wealthy owners who view the media business as a public trust? Some other terrific option no one has thought of yet?
(PS: If you have that terrific option no one has thought of yet, please email me ASAP at chris.cillizza@washpost.com.)
Chris Cillizza writes “The Fix,” a politics blog for the Washington Post. He also covers the White House.
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