According to Daniel Shore this word and others like it arose in response to the need to cut costs during journalism's "cablese" (his word) days, where words cost 5-cents apiece ("Real money in those days."). Thus, 'play down' became 'downplay' and a nickel was saved. With the advent of teletype machines the cost was determined by the letter, not the word, but the neologisms were here to stay at that point.
According to Daniel Shore this word and others like it arose in response to the need to cut costs during journalism's "cablese" (his word) days, where words cost 5-cents apiece ("Real money in those days."). Thus, 'play down' became 'downplay' and a nickel was saved. With the advent of teletype machines the cost was determined by the letter, not the word, but the neologisms were here to stay at that point.