The UK’s newspaper industry has hit a major milestone – but it’s not a particularly positive one. For the fourth consecutive month in a row every single one of the UK’s leading print titles has seen print declines, with the majority of those titles seeing double-digital YOY falls in circulation. Even The Sun, with a circulation that is somewhat bolstered by bulk copies, saw a 7.6 percent drop in its circulation to 1.45 million copies, meaning that not a single paid-for newspaper in the UK now has a circulation over 1.5 million.
It’s the latest piece of bad news for the industry, though an expected one: Nobody expects print circulations to suddenly leap back up to pre-internet levels, or even to remain static. The danger, however, is that print revenue from advertising won’t have the slow tail-off that circulations are having. The analyst Clay Shirky has predicted a second cliff for print revenue once circulations pass a psychologically important milestone and advertisers stop seeing print as a valuable medium in terms of ROI. Given how important print revenue is for those titles – making up the lion’s share of even the titles with huge digital audiences like the Daily Mail – that would be disastrous. Consequently, time might be running out for some of those papers who haven’t made enough of a transition to new revenue strands.