News publishers contributed £5.3bn to the UK economy in 2015
Summary: In a challenging era of falling newspaper profitability, due mainly to declining advertising revenues. “UK news media: engine of original news content and democracy”, says publishers are by far the biggest investors in original news content, accounting for 58% of the total investment in news production. But it warns that their future contribution rests on their ability to monetise newsbrand content, particularly on digital platforms, in order to fund newsgathering.
[] news publishing industry contributed £5.3bn to the UK economy in 2015
[] newsbrands generated £4.8bn revenue, supported 87,500 jobs and invested £97m in digital services while holding power to account
[] The sector also supported an estimated 87,500 UK jobs; invested £97m in digital services; and added value across the supply chain because the average publisher dealt with nearly 2,600 suppliers.
Newspapers are struggling and are slowly declining even though news publishing industry contributed a lot of money to the UK economy in 2015. In the report it does also say they their future contribution rests on their ability to convert/adapt news brands content especially on digital platforms, this can be tricky because if this doesn't work, newspapers know they wouldn't be able to survive. Digital platforms are tricky to keep up with especially with the traditional media as they would have to find their orginialty and space for their platform to fit in. News is already online through applications of news sources but can be also searched online, if the public audiences are getting their news from news organisations or very well known newspaper brands how will more news organisation able to keep up and get their views?
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