INFLUENCE OF ONLINE NEWSPAPERS ON THEIR PRINT VERSIONS’ REVENUE GENERATION
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INFLUENCE OF ONLINE NEWSPAPERS ON THEIR PRINT VERSIONS’ REVENUE GENERATION
Chapter one
INTRODUCTION
1.1 Background of the Study
Newspapers, radio, television, magazines, posters, pamphlets/leaflets, billboards, the internet, and other kinds of mass media are used by every culture to inform, communicate, and educate (among other things) as change agents.
Newspapers are a type of mass media that distributes current information on a regular basis. As a form of mass media, newspapers can provide education, information, enjoyment, leisure, and amusement.
This explains why newspapers are important, according to Ola and Ojo (2007), because they provide current information and keep readers informed about events and activities both within and outside their immediate surroundings.
Okunna (1999) supports this idea, arguing that newspapers are important because they provide current information or news.
“The press has evolved via the acutely practical tactics of the early journalists…to a press that has embraced the full impact and vigour of both the print and electronic media,” according to Okunna (1993).
It’s no surprise, then, that the recurring challenges that have plagued the print media sector at every turn have been considered as roadblocks for any company that has made major strides.
According to Ohaja (2005): “when the electronic media were launched, they had an edge over newspapers since they were giving the same condensed information as the latter but at a faster pace and in a style that plainly reflected reality…” . Wilson (1997) maintains that “it is not true that new technologies replace old ones” in light of the aforementioned challenges.
They may substitute for some of their functions, create new ones, or supplement the existing ones, but they cannot totally replace them.” Since McLuhan’s predictions, there has been an enormous flood of new and improved information tools, which are gradually supplementing and replacing older traditional mass communication technology.
New information processing, storage, and retrieval methods, as well as new media delivery platforms, have gained popularity. Newspapers increasingly use the services of an Internet Service Provider.
Individuals in Nigeria and other countries can receive electronic newspaper pages sent to their homes as long as they have Internet access.
The popularity of newspapers on the internet could be attributed to a number of secondary causes, including enthusiasm for new technology and a desire to be a part of the current trend. Economic reasons may be at the heart of the issue.
Newspaper proprietors have generally agreed that the internet brings opportunities and challenges to which they must respond. In actuality, some of the possibilities may seem obvious.
Offline newspapers (hard copies) are made using a combination of symbol manipulation and standard industrial manufacturing techniques. After the writers and advertising staff have delivered the final, made-up content, the newspaper may undergo a number of changes that constitute the actual manufacture and distribution of the commodity.
Printers and printing machines, as is common, produce hundreds of millions of essentially identical copies of newspapers. Dispatchers load newspapers into trucks, which are then delivered to wholesalers and eventually retailers, depending on the scenario.
They then either give it to the customer or display it beside the chocolates and cigarettes. All of this demands the spending of dollars on personnel and equipment. Online publications, on the other hand, are exempt from these levies.
True, it requires some server space, but this is little when compared to the printing operations and trucks necessary for the finished product. Customers are liable for distribution fees, PC purchases, and telecommunications costs.
According to Sparks (1996), internet newspapers provide proprietors the potential for significant cost savings. In comparison to working offline, internet newspapers offer what some journalists regard as a critical competitive advantage in newsgathering.
According to Sparks (2000), physical newspapers may print many versions, but they typically have one or two principal publishing points every 24-hour period. In the news today, the obligation to produce and distribute a real product may impose significant scheduling constraints.
This implies that there is a potential that an important news event may occur too late to be covered in the newspaper that day. Some journalists believe that covering breaking news is a crucial part of their profession.
Radio and television, both of which may continuously update news throughout the day, have long been thought to be at a disadvantage to printed newspapers, yet observation reveals that this option is only employed for a small percentage of articles.
The fact that an online newspaper is published every morning, as opposed to the continuous flow of broadcasters or the weekly or monthly periodicity of magazines, is no longer distinguishing feature (Featherly, 1998).
Furthermore, all of these different mediums now share the same physical space. Geographic distances, which once successfully separated the industry, have been mostly abolished.
Any form of news from anywhere in the world can be obtained by an internet reader at any time. Conversely, with new media and in new methods, the marketer may gain access to the most dispersed readership.
As a result of all of this, newspapers are seeing actual rivalry and challenge in their core business for the first time in years. They no longer have, or rarely have, privileged contact with readers, and hence with advertisers, which was a key component of their offline success.
1.2 Statement of the Problem
Given the growing number of Nigerians who use the internet on a daily basis, as well as the fact that major newspapers continue to appear on newsstands, it is becoming increasingly important to determine whether readers of different editions of newspapers prefer different content.
The digital revolution, according to Ashong and Henry (2017), has had a negative impact on the newspaper industry. Before the introduction of the internet newspaper, the hardcopy newspaper had firmly established and reinforced its position as many people’s primary and most frequent source of news.
However, the arrival of online newspapers unintentionally posed a threat to the print business model because it created a troubling dichotomy in news presentation and content preference by altering readers’ traditional pattern of seeking and consuming news, and as readers and advertisers flocked to the internet, hardcopies lost their major revenue streams.
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