Global newspaper publishers are highly susceptive to macroeconomic trends, as consumers tend to reduce subscriptions during volatile periods, and advertisers tend to withdraw or limit spending when times are uncertain. Still, regardless of economic performance, global newspaper publishers have experienced a decades-long, steady downward spiral as consumers increasingly obtain news from other media outlets. Traditional newspapers, facing significant readership declines, have watched consumers pivot to digital platforms for their news consumption. The rise of social media, streaming and other online formats increasingly relegates print newspapers to the sidelines. Despite some publishers enhancing their online presence, monetizing digital readers still lags behind the revenue generated by print circulation. As a result, over the past five years, revenue has been declining at a CAGR of 3.8% and is expected to reach $84.6 billion in 2024, when revenue is estimated to drop 3.6%. Digital adoption has been a lifeline for those quick to embrace it, though it's done little to fully compensate for the losses in print subscriptions. Subscription-based models and the introduction of e-papers have become widespread, yet they haven't been the panacea many hoped for. As more consumers flock to free news sources, publishers have sought various means to attract subscribers. Most often, publishers offer limited discounted rates for online platforms as more consumers are interested in digital subscriptions. However, retaining subscribers past the date of the discounted rate is complex, and many newspapers lose customers during this period. Furthermore, the climb in discounted rates and lower advertising fees due to lower readership puts greater pressure on profit. With few cost-cutting measures left, some newspaper publishers are forgoing print circulation altogether and entering the sphere of online-only publications. Overall industry profit has eroded as waning demand combined with low-cost alternatives drove down prices. Over the next five years, global newspaper publishing will continue to deteriorate as online options proliferate and more of the public reduces reading habits, weakening circulation. With many consumers already accustomed to obtaining news for free through various outlets, few will find a reason to begin paying for subscriptions. As readership continues to contract, publishers will experience greater difficulty courting advertisers and will be forced to reduce rates further. Ultimately, revenue will drop at a CAGR of 2.9% over the next five years, reaching an estimated $72.8 billion in 2029.