Here's why:
* Shift to digital media: The rise of the internet and online news sources has led to a dramatic decline in print newspaper readership. People now get their news from websites, apps, and social media.
* Economic factors: The Great Recession of 2008 had a major impact on the newspaper industry, as advertising revenue plummeted. Many newspapers were forced to cut staff, reduce print runs, and even close down.
* Changing demographics: Younger generations are less likely to read print newspapers than older generations. They are more accustomed to getting their news online.
According to the Pew Research Center:
* Between 1991 and 2021, daily newspaper circulation dropped by 75% in the United States.
* In 2021, daily newspaper circulation reached an all-time low of 24 million.
While some newspapers have successfully transitioned to online-only models, many are struggling to stay afloat in the face of declining circulation and advertising revenue.