Industry Analysis & Industry Trends
It has been a tough five years for the News Agencies industry. While already dealing with declining demand due to media fragmentation, the financial crisis exacerbated the industry's difficulties, even causing some agencies - such as Raymonds News Agency and Kent News and Pictures - to go bust. Reflecting this, the industry will contract by an average of 8.9% per annum over the five years through 2011-12, with revenue falling to roughly £1.82 billion. During the current year, industry revenue is forecast to contract 1.1%, after 2010-11 brought a brief respite from four years of consecutive revenue declines.
Media fragmentation, driven by a consumer preference for a more varied, online source of news and information, has increased the volume of news being published... purchase to read more
Industry Report - Industry Analysis Chapter
The rapid digitisation of the world of media and news has seen the News Agencies industry come under strife. Traditional media publishers and broadcasters like newspapers have had to rethink their business models to stay competitive, as the majority of consumers have gravitated online for news. The ease of access to free digital content has caused their advertising revenue to plummet, which was exacerbated by the global financial crisis. While the volume of news-based content has never been higher, the need for original reporting has declined dramatically due to the rapid spread of information over the internet... purchase to read more