Veteran TV trade journal Broadcasting + Cable is shutting down, in a sign of the times for media
As a seasoned film enthusiast who has witnessed the metamorphosis of the media landscape since the dawn of VHS tapes, I find myself saddened by the impending closure of Broadcasting + Cable and Multichannel News. These publications have been stalwarts in my journey through the labyrinth of television and broadcasting, chronicling the industry’s evolution from the golden age of network TV to the digital streaming revolution.
The media business has gotten so tough that one of its longest-running chroniclers is going away.
In September, the media company Broadcasting + Cable, established in 1931 as Broadcasting, plans to publish its last issue. The company’s parent firm, Future, is also shutting down Multichannel News, a magazine dedicated to the pay TV industry that has been operational since 1980. Both entities will discontinue their newsletter services as well.
As stated in a post on the Broadcasting + Cable site, the publishing firm based in New York is planning to replace their current publications with a fresh, curated newsletter focusing on media and entertainment. Starting in October, their NextTV news website will undergo a significant transformation.
In the future, the Broadcasting & Cable Hall of Fame dinner will persistently be hosted by them, serving as a significant source of the publisher’s income. This prestigious annual event, celebrating executives and talents within the television industry, typically takes place in New York City during September.
“Amanda Darman-Allen, senior vice president at Future’s B2B Media & Entertainment Group, stated that the industry is undergoing swift change. She explained that to keep pace with this transformation, our business must be flexible. By emphasizing significant face-to-face events and a consolidated newsletter, she believes we can continue to be a vital link and trendsetter in the industry.”
The company provided no information on any layoffs related to the closings.
In October 1931, broadcasting made its debut as a budding medium, with radio taking center stage, as suggested by the title “WABC Half-Wave Antenna Promising” in an early article.
During the 20th century’s progress, with television and radio broadening and advancing, regulatory matters received significant focus within the title. In March 1993, the publication’s name was changed to Broadcasting & Cable.
Over the past four decades, ownership of Broadcasting + Cable has shifted multiple times, starting with its sale to Times-Mirror (previously associated with the Los Angeles Times) in 1986. Then, in 2018, Future Media Group acquired both Broadcasting + Cable and Multichannel News from NewBay Media LLC.
The print frequency of B+C and Multichannel News had been reduced from weekly to monthly.
The challenges facing the publications have become a familiar refrain for media companies.
In recent times, there’s been a consistent drop in the distribution of printed magazines and newspapers, as more readers are moving towards digital platforms for their news consumption. Obtaining advertising rates similar to those offered for traditional print media, considering the audience reach in online journalism, has proven difficult.
In recent times, a significant shift has occurred in the media and entertainment industry news sector, with many sources transitioning their platforms to the online realm. Notably, Variety and Hollywood Reporter have stopped issuing daily editions and instead focus on weekly glossy publications. Digital-native outlets like Puck, The Ankler, and Deadline have also emerged in this landscape.
As television broadcast companies merged and shrank due to factors like cord-cutting and the shift of the entertainment industry towards streaming services, both B+C and Multichannel News’ readership has noticeably decreased.
Even traditional print publications aren’t immune to the strain of shifting audience preferences and financial instability. On Tuesday, the up-and-coming news site Axios disclosed that they will be reducing their staff by 10%.
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2024-08-06 22:01