IDC’s Market Note for July 2022 details imaging and printing news that occurred during the month. Topics covered include Newsprint prices ballooning more than 50%, layoffs at Gannett, and plans to switch to six-day print delivery. To read the full report, please request an extended description. In this article, we’ll discuss what happened during July 2022, and how that impact the industry. Interested in learning more?
IDC Market Note discusses news that occurred in the imaging and printing market in July 2022
This IDC Market Note examines the news that occurred in the imaging and printing market during July 2022. For a more detailed description of the market research methodology, please contact IDC. This report discusses market trends, technologies, and opportunities across the imaging and printing market. Listed below are several highlights from the July 2022 IDC Market Note. Read on to learn more.
Covid-19 has impacted the inkjet printer market, causing a decline in shipment volume in Q1 of 2022. IDC noted that the epidemic affected inkjet printer sales and the overall performance of inkjet printers. In Q2, demand for inkjet printers declined by 11.8% year over year, and the A4 laser printer was hit particularly hard. Despite the decline in Q1, the overall market for inkjet printers will continue to face challenges throughout the year, including the launch of the Covid-19 vaccine.
Newsprint prices have ballooned by more than 50%
The soaring cost of newsprint has affected the financial condition of publishers in China. The media group responsible for Canada’s biggest Chinese-language newspaper, Sing Tao Daily, is preparing to cease printing daily newspapers on August 24. The newspaper company has already cut print runs and pagination to cut costs. The owners of the newspaper, owned by the Torstar Corporation, have also put printers on location. The soaring cost of newsprint will affect the entire Chinese-language publishing industry, as well as the economy in general.
The sudden and drastic rise in newsprint prices has caused major companies to shut down their operations and shift to brown paper grades. This, in turn, lowered the demand for newsprint. As a result, most newspapers stopped sending out hard copies in rural areas. In response, the Indian Newspaper Society (INS) has called for a fiscal stimulus package to support the newsprint industry and raise tariffs on government advertisements by 50 percent.
Layoffs at Gannett
The news of layoffs at Gannett in August 2022 has raised questions about the company’s priorities. The company’s greed has put stock buybacks and shareholders ahead of local reporters, who need those jobs in order to pay the bills. However, the news will provide opportunities for entrepreneurs. In addition to laying off journalists, Gannett is also planning to merge with another company to form a local information organization.
The layoffs at Gannett will affect roughly 400 employees across different locations and positions, including finance and information technology. It will also affect the company’s holdings in Wisconsin. Currently, the company employs over 27,000 people, and it is unclear how many layoffs will be necessary, given the amount of money that will be saved. As a result, many journalists may have to visit food pantries to eat.
Plans to transition to six-day print delivery
With the advent of the internet, newspaper publishers are trying to find a way to reach a wider audience. While many newspapers have cut the number of days they print, some are considering going completely paperless. The Tampa Bay Times, for example, is planning to stop publishing its Sunday and Monday print editions. While Gannett has not yet made a final decision, it has said that it will closely monitor pricing and cancellation rates. The newspaper has also begun experimenting with video newsletters, as well as e-editions.
Gannett’s plans to transition to six-day print delivery will affect more than 130 dailies. The company is reviewing the print frequency of all 200 dailies in the company. According to Amalie Nash, Gannett’s senior vice president of local news, many of its dailies will remain seven-day newspapers. However, Florida newspapers and Arizona dailies will not switch to digital only.
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Cost of newsprint
The rise in the price of newsprint has already prompted some manufacturers to raise their prices. Groupe Le Monde recently increased the cover price of its daily paper Le Monde by Euro 0.20. Groupe Centre France also increased the price of its daily newspaper Le Monde. In November, the German newspaper publisher Funke Mediengruppe permanently closed its printing site in Erfurt, Germany, where it processed over 140,000 tonnes of newsprint every year. Meanwhile, Austrian paper producer Boyens Medien also closed its printing plant in Weddingstedt-Borgholz in Q4 last year, as a result of a rising price of newsprint.
The price of newsprint in August 2022 could reach $700 per metric ton. The price hikes are likely to be uneven, depending on the volume and distance from the paper mill. However, a 30 percent increase in the price of newsprint would translate to $1 million in cost increases for the industry. Moreover, there is a risk that the US dollar’s resurgence will cause newsprint prices to rise further.https://www.youtube.com/embed/tSDkff8CmN8