The figures, released by the culture ministry’s Agency for Culture and Palaces on Tuesday, show a three percent fall in turnover between 2016 and 2017, from 29.3 billion kroner to 28.5 billion kroner.
Print media such as magazines, daily newspapers, local newspapers and weeklies were hit particularly hard during the period, and even television and streaming experienced a four percent loss of turnover in 2017.
But publishers and radio saw growth during the same period, according to the ministry analysis.
Agency for Culture and Palaces special consultant Anders Sebastian Kauffeldt said that there had been a clear change in media consumption habits in Denmark.
“It is obvious that Danes’ media habits are changing apace. We are reading fewer print newspapers, and more and more of us are using foreign streaming services such as Netflix and Amazon Prime, rather than watching television on traditional channels,” Kauffeldt said in a press statement.
“That trend is hitting the media industry particularly hard, and it saw an overall three percent loss of turnover in 2017,” he added.
“Worst-hit were news and current affairs media like daily and local newspapers, which saw a decrease of six percent,” he continued.
The analysis also shows that a relatively small number of Danish and foreign media companies are responsible for the majority of the country’s media turnover.
Two prominent Danish corporations, JP/Politikens Hus and Egmont, constitute 32 percent of the country’s total media takings. Both companies have a turnover of over 1 billion kroner.
Meanwhile, 59 percent of people who work in Denmark’s media industry live within the greater Copenhagen area.