Results tagged “news business” from ARTicles

Is there anyone not talking about a crisis in the news industry? The New York Times is dumping 100 jobs. The troubled Tribune Company is offloading 400-500 people. And across the country there are reports of slumping advertising and impending layoffs. Now this report in AdAge:

U.S. media employment in December fell to a 15-year low (886,900), slammed by the slumping newspaper industry. But employment in advertising/marketing-services -- agencies and other firms that provide marketing and communications services to marketers -- broke a record in November (769,000). Marketing consulting powered that growth.

So things are pretty bad, and we're working in a dying industry. Nobody's reading newspapers anymore. 

And yet they are. And in record numbers. Look at this report in Editor & Publisher. The online audience is soaring, and here's the growth rate and numbers of unique readers for newspaper websites in January 2008 (with 000's at the end):  

NYTimes.com -- 20,461 -- 45.1%
USATODAY.com -- 12,314 -- 19.4%
washingtonpost.com -- 9,902 -- 14.6%
Wall Street Journal Online -- 6,962 -- 81.4%
LA Times -- 5,715 -- 4.7%

Not only are these huge audiences, but the growth rates continue to be spectacular. By far, more people are reading newspapers than ever before. As just one example, scroll down the list to No. 16, the Seattle Post-Intelligencer, which has a unique web audience of 2.2 million. The P-I's print circulation, when it was considered healthy in the last century, was somewhere in the low 200,000's.

This is spectacular growth in audience. And yet, as the P-I's print circulation has declined to the mid-100,000s, its newsprint ad revenue has slumped, the paper is losing money, it's not replacing staff, and the owners are riding down its content, managing losses. As the paper's content has degraded, the perception of it in the community is one of declining influence and quality.

The problem, say newspaper industry execs, is that...

February 20, 2008 2:04 PM |


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