PEST Analysis for Media Journalism

By carrying out a PEST Analysis into the current Media Journalism sector, we are able to gain an in-depth understanding of the current industry, highlight new opportunities and also threats or problems and how these can be over come.

The Internet and advances in digital technology has changed the model of mass communication and has had a major impact on the external environment of the newspaper and magazine industries, gradually substituting traditional print media. Digital media has also increased competitiveness within the market and with low capital cost and global accessibility of resources, this has been a threat for many established prints publications. Many existing newspapers have therefore had to compliment their daily prints with online version and further updates throughout the day, instead of waiting for updates till their next publication to be released.

The current economical climate also means that people may be less likely to buy a newspaper or magazine when they could access this information free online - either via newspaper websites, independent websites, blogs or forums. This has had a knock on effect for companies who may have previously used print promotion to reach consumers, as their target consumers might be struggling to buy products, they may have smaller marketing budget or may be choosing to spend their budget on other promotional platforms.

The current economical climate has also led to the public becoming less trusting of the government and therefore, it is easy for consumers to avoid certain publications depending on their political standpoint. With developments in technology and an increased access to resources and information it also means that the public are more likely to investigate news stories themselves - allowing more transparency and angles to a story.

Socially peoples needs are also changing in the way readers access information. More people are accessing digital and social media and by going online, newspaper and magazines can offer their readers multimedia and interaction - something which was not possible only a few years ago.