The US economic downturn continues to wreak havoc on the ailing print publishing business as another US-based newspaper announced that it will stop its print edition and go online only.
AsianWeek, a 30-year old newspaper for Asian-Americans based in San Francisco has announced plans to drop its print edition and go online only. according to a report by Inquirer‘
AsianWeek president and Editor James Fang and Publisher Ted Fang said in a letter to readers that Friday’s edition would be the last print version of the newspaper, which has a circulation of 60 thousand.
‘There are fewer major newspapers, fewer newspapers readers, and fewer newspaper advertisers than ever before, they said ‘Asian Pacific Americans have led the way in the digital revolution, migrating away from print media and into receiving their news and information electronically’. They added.
The decision of the AsianWeek management to shift and focus attention towards Internet/Online publishing may be considered timely and a sound business decision as recent studies show that more and more readers are shifting to the Internet for news information rather that the usual print media sources.
Recent studies indicate that nearly half of Americans say the Internet is their top source of news. This can only mean that online publishing is one good area for print publishers to shift and expand their operations. One particular survey showed that 48% of the respondents that they surveyed said that their primary source of news and information is the Internet compared to about 40% a year ago.
In the meantime, one of the oldest newspapers, the 100 year-old Christian Science Monitor, announced that it will end its daily print edition by April 2009 and become the first national US newspaper to publish only on the Internet.