The explosion in popularity of social media sites, from bookmarking to blogs and social networks, has arguably changed the online publishing game completely. “Just as 10 to 15 years ago, the Web changed the publishing industry … social [media] is creating the same kinds of changes today,” says Shiv Singh, vice president and global social media lead at Razorfish, a global interactive marketing company.
In an effort to cut costs and stay relevant in an age of up-to-the-minute, breaking online news, US News & World Report in 2008 reduced its print frequency from weekly to biweekly, and finally to monthly. Similarly, Newsweek plans to shrink its print format and focus on more feature-length stories. Its editor recently told The New York Times, “The drill of chasing the week’s news to add a couple of hard-fought new details is not sustainable.”