11:30

UK newspaper and magazine publishers face losing up to £600m in revenue from advertising and sales of print copies due to the coronavirus, most of which will not bounce back when the pandemic subsides.

Enders Analysis is forecasting that publishers will see an advertising decline of 30% this year - a hit of £330m for newspaper owners and £120m in the magazine sector - the same level as 2009’s advertising recession.

The pandemic is expected to accelerate the structural challenges already facing the legacy print publishers, namely that advertisers and readers are shifting online, where giants such as Google and Facebook dominate.

The report says:

Publishers should plan for 40% to 50% of what is lost to never reappear

In addition, newsstand sales are forecast to decline by about 50%, modelled across a two month lockdown period, which will cost newspapers £110m in circulation revenues and magazine owners £40m.

Mark Sweney (@marksweney) Bleak: UK newspaper and magazine publishers to lose £600m in revenue in advertising and sales of print copies due to the coronavirus, says @EndersAnalysis . The kicker: very little “bounce back” as virus accelerates shift online - where GoogBook wins.

Again, the report notes that when News UK was forced to shut the News of the World amidst the phone hacking scandal, the rapid launch of replacement Sun on Sunday only managed to pick up 60% of NoW’s circulation, with 40% of buyers dropping out of newspaper buying entirely.