The Independent print newspaper was "terminated"

(Baonghean.vn) - On March 26, 2016, the final print issue of The Independent will be published - ending nearly 30 years of existence and development of one of the most famous daily newspapers in the UK. This decision by Russian owner Evgeny Lebedev is considered an inevitable consequence of the trend of digital media.

Before The Independent was “killed”, the newspaper only circulated 56,000 copies per day (of which 16,000 copies were given away free or with reduced content). In 2011, the print circulation of The Independent reached nearly 170,000 copies per day. The dramatic “decline” in circulation was the main reason for Mr. Lebedev’s decision to “kill” the print newspaper on February 12.

Newspapers "fall out of favor" in the media market

“The newspaper industry has changed and this change is driven by our readers. Their choices show that our future is digital,” Mr. Lebedev explained.

He also affirmed that the decision to terminate the print newspaper will not affect The Independent brand, instead, the newspaper will focus on improving the quality of its content.

The Independent newspaper will cease publication from March 2016. Photo: AFP

The immediate effect of the decision is that around 100 journalists working at The Independent will be laid off – more than half of the newspaper’s reporting staff. At the same time, 25 new positions will be created to upgrade the online newspaper.

Indeed, the popularity of The Independent’s print and online editions are inversely proportional. The Independent’s online edition has a monthly readership of 58 million and is one of the most active online editions on social media. However, this has some impact on the quality of the paper – according to The Independent’s own reporters.

Accordingly, many articles on The Independent are chasing “blind” views. A poignant example is the article published on February 12 with the title: “10 unbelievable stories that show that pets are our best friends”.

However, online is not a financially viable alternative, even if The Independent's reach extends beyond the UK. Online readers can read the paper for free and online advertising revenue is unlikely to match that of print.

Revenue: a common problem that is difficult to solve

In fact, this is a common problem for the press around the world and it is not the first time that The Independent has encountered financial difficulties. In 2004, The Independent's circulation was reduced to only half. The solution they chose at that time was to convert the traditional newspaper format to a small newspaper format (the "tabloid" format - often used by market newspapers), which is more suitable for the habit of reading newspapers on public transport.

In 2010, when Mr. Lebedev bought The Independent, he made a bold move by creating i—a stripped-down print paper from the original The Independent. The 50-centimeter daily offered readers access to serious information in a shorter format than the original.

Evgeny Lebedev - owner of The Independent and his "revolutionary" decisions for the second largest daily newspaper in the UK. Photo: Bloomberg

Creating a paper in the midst of a crisis in traditional journalism may seem like an odd choice, but the i has been surprisingly successful, with a daily circulation of 260,000, surpassing that of the Guardian or the Financial Times (in the UK alone). The i's net profit is £5.2m (about €6.4m) – a significant sum for The Independent brand.

Yet on February 12, Lebedev decided to sell the i newspaper for 24 million pounds (31 million euros) to Johnston Press - a newspaper group in the UK. Without i, The Independent newspaper certainly cannot continue to exist on the market.

The question is: Who will follow The Independent in its footsteps? Media experts predict that the Financial Times and the Guardian will soon suffer the same fate. The Guardian alone has planned to cut costs – including streamlining its staff – to make up for a €65m revenue shortfall last year.

Thuc Anh

(According to Le Monde)