The publishing industry has been feverishly trying to contend with the rise of technology and mobile-first consumer behaviors for decades. As the main modalities through which we receive our information have evolved rapidly and unalterably with the rise of the internet, smartphones, and e-readers, so too has the way in which we consume that information. 

We expect more insight from significantly less text, we want our key takeaways to be bulleted, we want our pages to be digital, and we want the entire experience to be free. 

This has left every single print media exec and editorial team around the world at an ongoing, mission-critical crossroads – where they must make the hard choice between:

• Digitizing their content or becoming both irrelevant and financially insolvent
• Trimming down their teams or trimming down the truth
• Shelving their iconic print pages for paint-by-numbers sites in a hyper-saturated market
• Opting for substantial stories or settling for clickbait titles on social media squares

As Peter Coy, a tenured journalist for BusinessWeek, Bloomberg, and the New York Times, astutely put it: “The dilemma for publishers of print magazines is that cutting costs by going online also cuts deeply into revenue, since online ads are cheaper than print ones. It’s also tough to charge as much for digital subscriptions as for print ones, Rick Edmonds, the media business analyst for the Poynter Institute, told me. Plus, it’s harder to stand out in the cacophony of the internet than it is when your publication sits on the coffee table.”

How can these decision makers successfully grapple with these escalating challenges, and how can they evolve alongside their audiences to bring their publications into the future? We have a few ideas.

1. “Digitize or Die” Given that the current daily average for screen time sits around 6.50 hours for most people with access to the internet across the world, it’s obvious why publishers are vying for ways to capture those eyeballs and maintain brand equity within the digital sphere. It doesn’t help matters that technology and digital consumer habits shift and evolve at lightspeed, leaving even the earliest adopters of digitized print media struggling to match pace. By investing in the right tech tools and top talent, however, publishers can stay in the ring and remain relevant to modern audiences without sacrificing the quality of their content. Consider carving out a budget for a technology partner who can repackage your print content in a way that will add net-new value to the printed page version, like audio/video plugins or seamlessly shoppable ads.
2. “Who Cares” In 2024, information overload is a serious and ubiquitous challenge facing both audiences and publishers. With so much data and distraction pushing through our phones from every corner of the globe at any given moment, we’ve seen a rise in “Do Not Disturb” mode usage and “Unsubscribe” mentality, presenting yet another hurdle for print media execs to overcome. To tackle this obstacle, consider doing much more with less. Once a brand’s digital identity has been established, its team can leverage data analytics and AI technology to develop a deeper, real-time understanding of reader interests and behaviors to ensure all content is relevant, concise, actionable, and on-trend with changing behaviors. 
3. “Get to the Point” Between our culture’s compulsion for immediacy and dwindling attention spans, the window of opportunity to capture and engage a reader is smaller than ever. Fret not. By prioritizing short-form content equally with traditional full-length features – and by strategically repackaging those longer pieces into bite-sized, creatively curated infographics and social media designs – publishers can achieve a far greater reach with every piece of content their team generates, turning a timely and trustworthy article into an evergreen actionable.

“Follow the Money” To Coy’s point, traditional publishers have relied heavily on ad spend as a lifeline for their business, and since digital advertising is far less lucrative than above-the- fold ad space, sustainable monetization in the digital age is a pressing concern that isn’t going to go away. These teams should consider diversifying their revenue streams – i.e., through strategic partnerships and revenue-share models – while still enabling free access to some of their content in order to win over new consumers and maintain financial stability. This is where “freemium” subscription models have really moved the needle forward for content providers.
 

While the race toward a digital-first paradigm has left so many print media companies bruised and bloodied, the journey is far from over – and a few nimble, strategic changes and toolsets can be the difference between fighting against digital transformation and embracing it as a powerful ally that can future-proof publishing while delivering net-new value to audiences and advertisers. The key here is to be imaginative and rethink revenue models, expand audience engagement strategies, diversify content and the channels through which it's delivered, and creatively anticipate the next new way to delight readers with the stories that matter most.