Even though with the talks of traditional media agencies and institutions depleting in readership as the era of the digital world is emerging on consumers, especially the millennials who popularly use social media platforms such as Snapchat, Instagram and Twitter to find news, and adults who now interestingly rely on their Facebook feed to be fed news, it does not mean that the old-school newspaper is dead.
The News Media Association commissioned Deloitte UK, a financial company to find out how much news publishers totalled in tax returns and the results are said to have contributed £5.3 billion to the UK economy in 2015. Furthermore the sector has brought in an estimated 85,500 jobs which benefited the UK economy along side the actual institutions themselves who have used an approximate 2,600 national suppliers that have added to the economical supply chain.
It is interesting to see this report as it proves that traditional media is not going away anytime soon and many rumours that suggest that non-digital media providers will go bankrupt are false for now as the revenue numbers are in the millions for these companies. I believe it will take another 5-10 years for the UK and the rest of the world to see a decline in newspapers.
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