Multilingual Business Communication

April 10, 2009

Print Media: The struggle for survival

Filed under: business communication, crisis communication, Vanessa Vanleene — meertaligebedrijfscommunicatie @ 11:31 am

The global financial crisis has made several new victims by pushing print media to the verge of extinction. These last couple of months, the already volatile sector of newspapers wearily noticed the erosion of circulation and advertising. The threat of heavy debt has forced several newspapers to file for bankruptcy or, in a final attempt to save themselves, to take extreme measures in cutting costs.

 

In December 2008, the Belgian publisher of several large Flemish newspapers, Corelio announced 60 layoffs. Luckily, by March 2009, the dismissals at De Morgen were limited to 15 instead of 26 employees. Corelio was also heavily criticised by the National Committee of Professional Photographers when the publisher stated they would no longer require the photographers’ services. To escape bankruptcy, Corelio’s journalists were now required to come up with their own photos for publication. The publisher is clearly giving it all in order to overcome the hardships of the economic crisis.

 

The question remains however whether there will be a future for print media at all. There are those who believe that the business model of newspapers is simply not up to par, especially when compared to the possibilities of the world wide web. Indeed, we are a generation who reads the news online, continuously updated all throughout the day. Maybe, the financial crisis is only pointing out the obvious, when the weakest companies have to close shop.

 

 

Vanessa Vanleene

Sources:

“Gedrukt dagblad wordt een dinosaurus”, NRC Handelsblad, 12 December 2008, p. 15

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