Today, the development of the publication industry is vulnerable to the growing impact of technology. Contemporary technology affects the publication industry in terms of internal business processes, consumer behavior and the nature of business. Such issues as growing impact of information technologies and rise of online publication, the decrease consumer interest in print media, the wide introduction of new technology and automation in the publication industry, and many others influence consistently the development of the publishing industry. In actuality, effects of technology on the publication industry are controversial, but the technology progress and their impact on the publication industry are irrevocable and inevitable. The contemporary publication industry confronts the tightening competition from the part of television and online media, growing consumers’ environmental concerns and other issues slowing down the progress of the publishing industry, but the industry still has the potential to grow and means to accelerate business development of companies operating within the publishing industry.
Technological changes contribute to the steady decline of the publication industry in its conventional form since the publication industry shifts online. In fact, today, many print media, such as popular magazines, newspapers and journals, move online to reach its target customer group, which also moves online due to the progress of information technologies. The publication industry faces considerable problems since conventional publication of print media becomes unattractive for investors and not profitable for companies that already operate in the industry (Chiasson & Davidson, 602). Online p...
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...oves the productivity and allows better and faster information processing and publishing. On the other hand, the technology raises the problem of the declining demand, shifting information flow online and others. Companies operating in the publication industry have to come prepared to deal with the tight competition and to overcome negative trends in their business development. Online media, consumer environmental concerns and other issues may raise substantial obstacles on the way to the business development of publishing companies but they still have opportunities to maintain their business development successfully. They should focus on the use of environment-friendly technology and use available means to attract consumers to their products. Thus, they will take competitive advantage and will be able to challenge the fast-progressing online publishing industry.
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