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| Re: Death of print media |
| Author: | New media roles |
| Date: | Monday, 7th Jul 2008 09:39 |
| Views: | 100 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=107889 |
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Press the panic button!
Great article online at the guardian today
" Advertising is often described as the canary in the economic coal mine, an early warning of bleak times ahead. If last week's announcements by several newspaper groups are anything to go by, the coming collapse could be grim.
Trinity Mirror, the owner of the flagship daily and the largest regional newspaper group, sent tremors through an ad-dependent industry when it revealed a 12.6% fall in ad revenues over the past two months. Other regional publishers - Newsquest, publisher of the Herald and the Northern Echo, and Daily Mail and General Trust plc (DMGT) - also reported double-digit declines for May. Fears over Johnston Press's future have been particularly marked with a 45% decline in its share price in just one week. In the US, the LA Times added to the gloom when it announced a 15% reduction in pages and 250 job losses, including 150 journalists, largely as a result of declining revenues. "
read the rest of it here >>> http://www.guardian.co.uk/media/2008/jul/07/pressandpublishing.advertising |
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| Reply To This Thread |
| Re: Death of print media |
| Author: | JOJO |
| Date: | Monday, 7th Jul 2008 12:17 |
| Views: | 94 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=107889 |
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Hi All,
Only problem is that they still have their heads firmly in the sand with both blaming the state of the economy for their problems. Neither of them understands the internet:-
“Trinity Mirror's chief executive, Sly Bailey, was adamant that the present state of the advertising market was "inextricably linked" with the health of the economy. Advertising spend is discretionary and can therefore be one of the first things that goes when under-pressure companies look to shave their budgets.
Tim Bowdler, the chief executive of Johnston Press, agreed with Bailey that the media sector's problems stemmed from the ailing state of the nation, but admitted that the digital age was presenting specific challenges for newspapers. "The primary cause of the sharp downturn we have seen lies in the economy," Bowdler said. "That's not to deny there are structural changes but the biggest factor is the performance of the UK economy."
You couldn’t make it up could you....
The fact is that in the past a company didn’t think twice about chucking £20k at recruitment advertising. Currently with budgets a bit tighter that same company has to look at where their spend is most effective. They are now quickly starting to see that they can spend £5k online and get the same if not better results than they could spending £20k in print!
The true challenge ahead for publishers is not the state of the economy, its having the foresight to increase exposure to online advertising and increase online media income whilst being less reliant on traditional print media income – this is something that neither publisher understands.
Both think that the current declines are still of a cyclical nature and that they will miraculously bounce back from it soon, yet the hard reality is that when the economy does pick up again those companies that have moved online will be unlikely to return back to high cost print media advertising – they need to wake up and smell the coffee.
JoJo |
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