Published On: 14/12/20221.9 min read

We’re all aware of some of the far-reaching impacts of the cost of living crisis. From the politics around it to the inevitable effect on shopping habits and it’s impact on media.

Cost of living crisis affects media

While there were a number of print magazine closures in the wake of the pandemic, the cost of living and energy crisis has been a death knell. For other media, it has impacted much of the content that they cover.

Trade title World Of Printing reported that “the energy crisis – on top of the effects of the pandemic and dramatically increasing paper prices – has left many printing companies in a critical situation”. An example of just one title impacted by this, is longstanding monthly magazine Choice. Aimed at over 50s, you might think it’d have been safe from the shift to digital. Yet, the magazine after 54 years will be closing.  This is due to the impact of rising energy costs on printers and paper manufacturers. And the hefty price increases are being passed on to publishers.

A similar fate has been true for a number of print titles recently regardless of different business models. Whether it’s paid for print, free print and online or different audience demographics. And many titles are struggling to remain commercially viable, with competition for readers and advertising budgets ever more fiercely competitive. Consumers also have more choice than ever before via a bevvy of social media platforms, blogs, podcasts and beyond.

Aside from production costs, media titles across mediums are having to pivot their content. One such example is Jamie Oliver launching an Instagram series geared towards reducing food waste and cooking up one-pan-wonders. Waitrose & Partners 2022-2023 Trends Report demonstrates the effects of the cost of living crisis. They hail veg as the hero of the meal no longer just playing into plant-based eating but also offering cost-savings.  At-home cocktail making is here to stay as consumers spend less time going out to cut their outgoings.

For marketeers, this sharpens the lens on ensuring brand campaigns consider all of these factors. Leaning into digital and social content, as well as considering what shoppers are really looking for.

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