/// Pew Finds Digital News Consumption Up But Revenue Dwindling
From big newspapers to local TV broadcasts, the news media continue to face severe challenges even though digital consumption is rapidly growing, according to the Pew Research Center ’s 2013 State of the News Media report. With economic and audience trouble, the news industry is “more undermanned and unprepared to uncover stories, dig deep into emerging ones or to question information put into its hands,” the Pew report stated. The biggest growth in news consumption was digital , due mostly to the growing ownership of digital devices, according to the report, slated for release today. Thirty-one percent of adults owned a tablet as of 2013—about four times the share of tablet owners as in May 2011—and 31 percent of new tablet owners reported spending more time with the news, while 43 percent reported that they are adding to the news they consume. The top 25 news sites saw a combined 7 percent increase in unique monthly visitors in 2012, according to Pew. A larger digital news audience isn’t translating into much revenue, though. Digital advertising grew 17 percent in 2012, according to eMarketer, but the news media are having trouble taking advantage of that growth. In the newspaper industry, for instance, digital ad revenue grew just 3 percent in 2012—not nearly enough to stem overall ad revenue losses. National advertisers are increasingly turning to Google, Facebook and other large networks to sell local ads through geo-targeting, as are local advertisers that once relied on news websites. And while mobile display advertising is continuing to expand, it's similarly dominated by big tech companies.
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