News and views from inside the media bubble
NEWSWEEK ENDING PRINT, MOVING ONLINE
After almost 80 years of publication, Newsweek announced it will be moving to online only at the end of December and will be “supported by paid subscription.” The all-digital publication will be called Newsweek Global, which comes on the heels of a merger with the Daily Beast two years ago. Newsweek Editor Tina Brown called the move “bittersweet.”
“Bitter, because I’d be lying if I didn’t confess to a bruised heart,” Brown wrote. “I love print: always have, always will do. Sweet, because we are rising spiritedly to a challenge, not wringing our hands in impotent despair over the way modern life — and modern reading habits — have rendered our print edition unviable.”
Brown said that since the merger, “a moribund magazine got its mojo back” and continued to say that operating the print version of the publication was no longer economically viable at a cost of $42 million annually to create, distribute and manage. Citing comScore, Brown said two out of every five people in the country read newspapers and magazines like Newsweek on mobile devices. The publication has always been innovative she said, such as its early use of color photos, a 1967 story that “revolutionized advocacy journalism” and its decision to pioneer publishing an accompanying CD-ROM, adding that moving online was a part of that process.