Taiwan’s print media is losing out to online outlets at an accelerating pace. The United Evening News, a publication that’s serviced Taiwan for 32 years, announced that it’s ceasing operation. A shift in reading habits among the public is prompting advertisers to divert their budgets toward online channels.
The United Evening News is a print publication that was founded 32 years ago in Taiwan. However, the editor-in-chief says that it’s ceasing operation on June 2. Traditional print media in Taiwan is losing out to online outlets. The harsh reality is that people now prefer getting their news online.
Advertisers are becoming more aware of this fact and have shifted their budgets accordingly. A Taipei Media Agency Association report says that, in 2016, online outlets took in over NT$25.8 billion (US$861 million) in advertising, while print media only managed to rake-in NT$5.08 billion (US$170 million). Scholars predict that online media will completely dominate the advertising market in a few more years.
Between 2001 and 2018, 14 major print publications in Taiwan went under. However, news companies understand that the times are a-changing, and they’re making their own adjustments. The United Evening News says that it’s retaining its staff and developing new digital products to stay in business.