This month’s edition of WhatTheyThink: Printing News covers the commercial printing industry and the visual arts market. The magazine, published since 1928, focuses on how to increase sales and improve the efficiency of print shops. Topics include wide-format printing, outdoor advertising, publishing, and management. This article discusses the key changes that are occurring in the industry. The August issue includes an outlook for the market. If you’re in the print business, it is important to subscribe to this publication!
IDC Market Note discusses news that occurred in the imaging and printing market in July 2022
The most notable development is the resurgence of covid-19, a virus that is now common in China. The virus caused the shipment of inkjet printers to decrease by 10.8% year over year, and the laser and dot-matrix printer market each declined by 14.0%. The resurgence of covid-19 has suppressed purchasing demands across industries and is expected to continue for the rest of the year.
Brother Industries will report negative growth in its Hardcopy Peripherals business, as the company never reached a market share of more than 8%. Meanwhile, Hewlett-Packard acquired the printer unit of Samsung for $1.05 billion, increasing its share to over 40% of the HCP market. Samsung was once the fifth-largest company in hardcopy peripherals, but this acquisition has increased its market share to 40%.
Gannett’s plans to transition many of its dailies to six-day print delivery
As COVID-19 has wreaked havoc on the local newspaper industry, Gannett plans to make major cuts in the near future. The company will cut up to 250 jobs and hold the subscription price at the same level as seven-day print delivery. Gannett will closely monitor pricing for new customers and renewing subscribers and cancellation rates. It will also look at how e-editions are performing, as usage has increased on days when print delivery is missed. Gannett has also admitted that it failed in its effort to enter the sports betting market.
Newspapers have long been under threat of extinction, and the trend is only likely to accelerate. While the newspaper industry sages have warned about the decline of print editions, many local publishers are cutting back, citing high costs and the argument that consumers prefer online news. Gannett’s Amalie Nash, senior vice president of local news, says the company is seeing “particular pressures” from e-books, increased newsprint prices, and shortages of delivery drivers.
Gannett’s layoffs during the merger
As part of the integration, Gannett will consolidate some of its regional newspapers and will eliminate duplicate functions like copy-editing and distribution. In addition, the company will consolidate regional printing operations and distribute their newspapers in one region. The company will also streamline copy-editing functions and only eliminate newsrooms whose coverage overlaps. It is unclear whether the merger will result in layoffs, and that is something that will have to be sorted out by the Board of Directors of the newly combined Gannett Co. Inc.
In addition to a slew of newspaper positions being eliminated, Gannett is also merging with GateHouse Media, which owns more than two dozen daily and weekly units in New York. The two companies have already drastically reduced newsroom staffing in recent years. The merger will create a new company with more than five times the number of employees than either company can handle on its own. Gannett’s layoffs during the merger will likely be more widespread than the company’s previous layoffs.
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Gannett’s review of print frequency of almost all of its more than 200 dailies
Several newspapers are reducing their print frequency. For example, in the state of Arizona, more than 130 dailies will drop to six days a week. The move has been prompted by Gannett’s recent call for newspapers to stop publishing letters to the editor online. The company owns one out of five daily papers in the country and is seen as a bellwether for other newspaper chains.
Newspaper companies across the country are experiencing a decline in print revenue. Newspapers in the United States have been battling declining subscriber numbers, falling advertising revenue, and crippling layoffs. Considering the challenges facing the industry, Gannett has a number of incentives to reduce its print production. It recently merged with GateHouse Media, but the deal saddled the company with debt and came just before a coronavirus pandemic hit the U.S. This year, Gannett reported a loss of $670 million and revenue of $135 million.https://www.youtube.com/embed/tSDkff8CmN8