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Media and Entertainment

The Industry Today

Digital content and social media have helped to transform the media and entertainment industry into an “always on” and always accessible business. Consumers have more options than ever before in how they read books and articles, rent movies, listen to radio programs, and watch TV. Magazine and newspaper publishing companies have been most affected by the widespread availability of online content. Plunkett Research reported that in 2016, paid newspaper subscriptions were approximately 33.5 million in the United States, a dramatic drop from the 60 million subscriptions in 2000. Digital-only subscriptions, on the other hand, have been on the rise. According to the American Press Institute, in 2015, approximately 78 percent of U.S. newspapers with circulations over 50,000 had digital subscription models. Publishers such as the New York Times and Gannett have raised their print subscription rates to compensate for the drop in circulation, and many also offer bundled subscription packages in which subscribers receive print publications and also have access to digital platforms.

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