The contraction of the magazine and newspaper industry not only will continue but is essential, said Sir Martin Sorrell, CEO of ad agency conglomerate WPP Group, in a keynote address delivered Wednesday at the Ad:Tech expo and conference in New York.
“All we see are newspapers and magazine titles dropping like flies, and that has to continue,” Sorrell said. “There has to be a winnowing out and consolidation.”
Sorrell said new media is essentially a one-to-one experience. The solution for publishers is to offer content for sale to those who are willing to pay for it, he said.
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