NATIONAL -- Online sources have become the No. 1 source of news in the U.S, overtaking TV and far surpassing print, according to a new study by The Reuters Institute Digital News Report 2015. The survey found that 43 percent of Americans identified online sources as their "main source of news," compared to 40 percent for TV, long the top source for news.

More than 7-of-10 magazines have lost subscribers, and some of America's iconic publications have seen their sales plummet. A recent report by the Pew Research Center discovered that Time sold an average of 60,140 copies of each edition in 2014, down from 116,780 in 2008. Playboy magazine's newsstand and subscription sales plummeted by nearly 20 percent in 2014, according to Media Life magazine's data from the Alliance for Audited Media. The Pew study also reported that about half of the news magazines studied received significantly more visits via a mobile device than a desktop.  

Print newspapers continue to struggle; both weekday and Sunday circulation fell around 3% from 2013 to 2014, according to Pew Research Center's recent analysis of Alliance for Audited Media (AAM) data.

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The Reuters study also reported tremendous growth in mobile news and in video news consumption online.

"We see the smart phone more clearly as the defining device for digital news with a disruptive impact on consumption, formats, and business models," wrote Nic Newman, Research Associate, Reuters Institute.

TAPinto.net is among the online news sources to take advantage of this trend.

"This study confirms what we've seen over the last few years -- that online news is booming and increasingly readers are viewing news on mobile platforms," said Mike Shapiro, founder of TAPinto.net. "While we are concerned for the future of print media, here at TAPinto our unique model of franchising local news enables us to be able to provide original hyperlocal news content for our growing readership that now tops 3.8 million."

To read the full Reuters Institute Digital News Report 2015, click here.