Shift from Print Advertising Drives Magazine Layoffs

If anyone doubted that print and television advertising were on the brink of suffering, those doubts have been shattered with the recent layoff announcements by not one, not two, but multiple magazine industry leaders in various categories.  Time, Sports Illustrated, Fortune and Money have not just let executives go recently, but now, each company is seeking voluntary layoff participants to trim expenses.  the culprit – reduced advertising revenue.

The writing has been on the wall that print and television advertising need to prepare for a shift in ad spending from traditional media to online social media.  It could be argued that a business model overhaul is required to keep many of these publications floating above water in the long term. 

What do you think?  Will there always be a place for traditional print magazine advertising, or is the clock ticking?

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