Wall Street Journal’s Hong Kong edition will no longer be distributed after October 7 as the paper is moving to a digital only strategy. This is part of the paper’s continued effort to scale back its print operations in Europe and Asia as it shifts savings and focus to digital. Luckily for the Wall Street Journal, digital has been on the rise with 1.27 million daily digital subscribers which is more than print subscribers. As print related advertising continues to collapse, more and more publishers are resorting to killing print editions instead of continuing to pay high production costs for something in steady decline. The Village Voice, a long time New York media staple, announced last week that it was shuttering its iconic print paper to focus on its website and other digital offerings. The two current trends in media right now is the shuttering of print products and the “pivot” to video which is resulting in big layoffs. Publishers are desperately scrambling to find the next big revenue source and right now for most of them, all signs point to video.
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