Games Consoles and Podcasts Forecast to Overtake Print Press Reach

Games consoles and podcast media are forecasted to reach more consumers than print press by the end of 2023, according to data by GWI and WARC Media.

Having reached nearly 80% of audiences worldwide a decade ago, the global consumer reach of print press will decline to 67.4% by the end of this year. Games consoles and podcast media will overtake print, reaching 68.0% and 68.8% of global consumers respectively in 2023. This will make print press the channel with the lowest global reach of those monitored by GWI.

Music streaming – another emerging channel that has gained great growth momentum – first reached more audiences than print press in Q2 2022 and is edging more closely to compete with the reach of online press.

Global publishing print ad revenue dropped from $75.9bn in 2016 to $37.3bn in 2022. Print – including newsbrands and magazines – still accounted for 72.9% of total ad spend in publishing.

Threatened by declining advertising revenue, print publishers are diversifying their income streams. The New York Times’ digital ‘bundles’ strategy – combining products including games and sports brand The Athletic – helps to offset slowing ad sales. Its digital-only subscriptions continue to grow at high-double-digits.