How the Internet Changed the Market for Print Media.¶
Bhuller, M., Havnes, T., McCauley, J., & Mogstad, M. (2024). How the Internet Changed the Market for Print Media. American Economic Journal: Applied Economics, 16(2), 318-358.
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Primes¶
- Amara's Law
- In regulation and policy reform the short-term impact of a new law is typically smaller than predicted (compliance lag, gaming, weak enforcement) while the long-term impact is larger (norms shift, complementary rules build out, behavior becomes habituated).
This sourceCausal evidence (Norwegian broadband rollout) that the internet's effect on print media compounded over time — strong substitution from print to online and a ~30% revenue decline for newspapers — illustrating the foreseeable direct effect on newspapers versus the larger, slower infrastructural reorganization of the news market. Used as the closest available evidence for the internet's short-run-vs-long-run impact divergence.
Supported in partVerified against the publisher's abstract
Provides causal evidence that broadband internet cut print readership and newspaper revenue - the media half of the claim; says nothing about dot-com forecasts or forecasters' errors.
“Broadband internet adoption triggered large reductions in print readership and circulation and equally large increases in online news readership.”
- In regulation and policy reform the short-term impact of a new law is typically smaller than predicted (compliance lag, gaming, weak enforcement) while the long-term impact is larger (norms shift, complementary rules build out, behavior becomes habituated).
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