Newspapers Continue To Struggle
Posted by Things continue to look bad for print newspapers as revenue continues to decline month after month. The internet has changed print media strategy in the past 2 years. Many of the companies are putting up local city websites and cancelling publications in circulation. The number 1 revenue earner for newspapers is classified ads. Sites like Craigslist.org and others keep taking consumers away from print hurting their bottomline. Consumers are embracing these sites because listings are either free, cheaper, and more effective with the ability to add a photo with your writeup.
I do not think newspapers will become exstinct, but I do believe they will have to become creative in order to regain consumers that they have lost to the internet. Somewhere out there, there is a strategy that will combine the internet and newspaper working hand in hand to deliver the consumer an outstanding experience. If it will ever materialize, I do not know. One thing certain, the internet will continue to be used for local information.
Publishing revenues have seen the steepest declines for Media General, down more than 15 percent year-over-year in February, similar to numbers experienced in January. Classified fell 28.5 percent from $15.6 million in February 2007 to $11.1 million last month. National advertising was down 16.5 percent to $2.5 million last month.
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