Troubles for Traditional Media - Both Print and Television

NEW YORK, Oct. 28 /PRNewswire/ -- Traditional media is in trouble. Newspapers are struggling with circulation and magazines like Newsweek are being sold for $1. And, while two-thirds of Americans (67%) still agree that they prefer to get their news in more traditional ways such as network television and/or reading newspapers or magazines in print, over half of Americans (55%) say traditional media as we currently know it will no longer exist in ten years. Additionally, half of U.S. adults (50%) say they tend to get almost all their news online.

(Logo: http://photos.prnewswire.com/prnh/20100517/NY06256LOGO )

(Logo: http://www.newscom.com/cgi-bin/prnh/20100517/NY06256LOGO )

These are some of the findings of a new 24/7 Wall St./Harris Poll survey of 2,095 U.S. adults surveyed online between October 8 and 12, 2010 by Harris Interactive.

Focusing on specific media sources, when Americans are looking for news, almost half (46%) say they go to local television news all the time while about one-third say they go to local newspapers (35%) and network television news (31%). Two in five adults, however, say they never go to national newspapers like the New York Times or weekly news magazines (42% each) when they are looking for news.

Additionally, in looking at the amount of time people are spending with print media, one-quarter of adults say over the past year, the time they have spent reading newspapers in print and reading magazines in print has declined (25% and 23% respectively). Conversely, three in ten adults (28%) say the time they have spent visiting online news and information sites has increased over the past year.

Age matters for media consumption

One reason traditional media should be worried is that media consumption and attitudes towards media are very different by age. Only one-third (33%) of those 55 and older say they tend to get almost all their news online compared to almost two-thirds (65%) of those 18-34 years old. And, while four in five of those 55 and older (81%) prefer to get their news in more traditional ways, just over half of 18-34 year olds (57%) feel the same way.

Where people go for news also changes by age. Adults 55 and older are much more likely than 18-34 year olds to go to local television news all the time or occasionally (88% vs. 63%) and to local newspapers (81% vs. 56%) when they are looking for news. However over half of 18-34 year olds go to websites that aggregate news (52%) compared to two in five adults 55 and older (39%).

Network TV versus Cable TV versus watching online

Besides traditional print media, network television also has to face many battles – both against people watching more television online and watching more cable television shows.  Currently, two-thirds of Americans (67%) say they watch television shows primarily on television, while 5% watch them primarily or mostly on their computer. If this is examined by age, again, there is a large difference with over four in five adults 55 and older watching primarily on television (84%) compared to less than half of those 18-34 (48%).

When it comes to cable versus network television, there is an even split. Three in ten Americans (30%) say they watch shows primarily or mostly on network TV while three in ten say they watch shows primarily or mostly on cable (29%); one-third (36%) watch cable and network shows equally.  While four in five U.S. adults (82%) believe that network television shows will always be a large part of Americans' viewing habits, two-thirds (65%) believe people will watch more television on cable than on the networks in the near future. One reason may be quality. Over half of Americans (51%) say cable television shows are much higher quality than network television shows.

So What?

While they might not have abandoned print media or network television completely, Americans are welcoming and embracing other media in leaps and bounds. And, as one might expect, younger Americans are setting the pace as they are getting their news online and not through local newspapers. In fact, for local newspapers, readership is clearly being driven by those who are 45 and older. Traditional media may need to reinvent themselves to give younger Americans a reason to buy local papers or turn on their local news. Network television may not be in as much trouble as print, but they also have to watch their backs as cable television is clearly winning eyes and the counter-programming they did that was once mocked by the networks is now being copied.

Methodology

This 24/7 Wall St./Harris Poll was conducted online within the United States between October 8 and 12, 2010 among 2,095 adults (aged 18 and over). Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Where appropriate, this data were also weighted to reflect the composition of the adult online population. Propensity score weighting was also used to adjust for respondents' propensity to be online.

All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, Harris Interactive avoids the words "margin of error" as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.

Respondents for this survey were selected from among those who have agreed to participate in Harris Interactive surveys. The data have been weighted to reflect the composition of the adult population. Because the sample is based on those who agreed to participate in the Harris Interactive panel, no estimates of theoretical sampling error can be calculated.

These statements conform to the principles of disclosure of the National Council on Public Polls.

The results of this Harris Poll may not be used in advertising, marketing or promotion without the prior written permission of Harris Interactive.

The Harris Poll^® #130, October 28, 2010

By Regina Corso, SVP, Harris Poll, Public Relations and Youth Research, Harris Interactive

About Harris Interactive

Harris Interactive is one of the world's leading custom market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll and for pioneering innovative research methodologies, Harris offers expertise in a wide range of industries including healthcare, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Serving clients in over 215 countries and territories through our North American, European, and Asian offices and a network of independent market research firms, Harris specializes in delivering research solutions that help us – and our clients – stay ahead of what's next. For more information, please visit www.harrisinteractive.com.

About 24/7 Wall St.

24/7 Wall St. is a leading independent financial news and opinion website focused on the U.S. and global equity markets.  The site publishes over 20 original articles a day on topics ranging from stock and sector news and market commentary to financial analysis and industry research.  Through syndication partnerships, 24/7 Wall St.'s articles are republished by the leading financial networks and the largest news websites, including Dow Jones' Marketwatch, The Street, AOL's Daily Finance, The Huffington Post, Yahoo! Finance, The Atlantic, and Comcast.net. For more information, please visit www.247wallst.com.

SOURCE Harris Interactive