EZsocialmedia Resource Picks:
Newsweek is dropping print.
After 80 years in print, the news weekly magazine will move to an all-digital format starting in January 2013. Its final print edition will be its Dec. 31 issue.
Tina Brown, the editor-in-chief of The Daily Beast and Newsweek, announced the news this morning on TheDailyBeast.com. The story was co-authored by Baba Shetty, the newly appointed CEO of the company.
“Exiting print is an extremely difficult moment for all of us who love the romance of print and the unique weekly camaraderie of those hectic hours before the close on Friday night,” Brown and Shetty wrote. “But as we head for the 80th anniversary of Newsweek next year we must sustain the journalism that gives the magazine its purpose—and embrace the all-digital future.”
Newsweek will become Newsweek Global, which “will be supported by paid subscription and will be available through e-readers for both tablet and the Web, with select content available on The Daily Beast.”
Brown and Shetty also said they anticipate “staff reductions.”
Last year, Newsweek merged with the website The Daily Beast. The magazine is on pace to lose its owners up to $22 million this year, according to a report in Bloomberg Businessweek. The report also highlighted Newsweek’s hemorrhaging subscriptions. They have dropped to about 1.5 million from roughly 4 million a decade ago.
Recently, Newsweek has drawn attention—and criticism—for its sensational covers. Twitter users responded to a September cover announcing Muslim Rage by hijacking the hashtag created around the topic.
The news of Newsweek going digital lit up Twitter and quickly became a trending topic. Among the more memorable tweets about the news:
Can’t believe Newsweek’s last print issue ever will be Dec 31st. Routine airport purchase for me… nuts how industry is changing.
— Bonnie Bernstein (@BonnieBernstein) October 18, 2012
it’s as though Tina Brown did everything possible to make us not miss the print edition of Newsweek.
— Staci D Kramer (@sdkstl) October 18, 2012
Newsweek to cease print publication, moving to all-digital. What an exciting new format for young people to continue not reading Newsweek!
— Indecision (@indecision) October 18, 2012
Congratulations to Newsweek for going all-digital. You are now a blog.
— Tim Siedell (@badbanana) October 18, 2012
End of print Newsweek may improve its journalism. Desperate newsstand covers were shameful, pandering sensationalism. No more #muslimrage?
— Jeff Jarvis (@jeffjarvis) October 18, 2012
Who would have thought 7 years ago that billionaires bankrolling unprofitable print publications was a fad, and social networking was not.
— Greg Galant (@gregory) October 18, 2012
Content brought to you by EZsocialmedia