NAA Reveals Biggest Ad Revenue Plunge in More Than 50 Years
The newspaper industry has experienced the worst drop in advertising revenue in more than 50 years. According to new data released by the Newspaper Association of America, total print advertising revenue in 2007 plunged 9.4% to $42 billion compared to 2006 - the most severe percent decline since the association started measuring advertising expenditures in 1950.
And yet the Vocano is doing well, the Weekly seems fine, and I've heard of several other community newspapers starting up throughout the Puget Sound. So, there seems to be a place for newspapers - or at least local news. Where does that leave the larger newspapers?
Last edited by morgan (2008-06-19 06:35:00)
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HISTORY!!!......To much opinion in what should be just reporting the news!!!!!!.......so, now, we all flock to online sites to gather the national/international news........but the local stuff, you still like the local hardcopy.....
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More on the subject:
Crosscut -
"After sell-off of the Times Co.'s Maine papers, a look at McClatchy":http://www.crosscut.com/seattle-newspapers/12894/After+sell-off+of+the+Times+Co.%27s+Maine+papers%2C+a+look+at+McClatchy/
__Two years ago, after McClatchy Co. swallowed up Knight Ridder, the Sacramento-based newspaper chain exuded an awesome sense of publishing power in the Pacific Northwest. McClatchy owned four Washington newspapers outright and held a 49.5% interest in the Seattle Times Co., which owns additional daily papers in Yakima, Walla Walla and, of course, Seattle. McClatchy also owned Idaho’s major daily, the Idaho Statesman, and the largest paper in Alaska, the Anchorage Daily News. The Seattle Times two years ago calculated that McClatchy had an ownership interest in almost half the newspapers published in Washington every day.__
__But that was then. These days, McClatchy’s fortunes are in a screaming nosedive. The chain reported a $1.43 billion fourth-quarter goodwill writedown last month, following a similar $1.3 billion third-quarter goodwill charge in November. In accounting parlance, 'goodwill' means what’s left after you take away the value of hard assets like presses, delivery trucks and buildings. It is the value of the “newspaper’ as opposed to the value of its machinery and buildings. Goodwill is a non-cash item on a balance sheet, but it reflects McClatchy’s shrinking market value. The company’s stock price, which was bumping up against $50 a share two years ago, closed at $10.75 a share yesterday.__
__Here in Seattle, McClatchy wrote down the worth of its Seattle Times stake last year from $102.3 million to $19.3 million. And what about those other Northwest holdings? McClatchy doesn’t break out writedowns for its individual papers, but here’s a chart showing the revenue results for each of the chain’s Northwest papers:__
Revenue by newspaper, in millions of dollars
Newspaper / 2007 / 2006:
Tacoma News Tribune $83.01M $87.82M
Anchorage Daily News $55.30M $60.62M
Idaho Statesman $53.66M $58.09M
Olympia Olympian $27.49M $27.04M
Tri-City Herald $25.86M $26.23M
Bellingham Herald $19.77M $19.97M
David Zeeck, the News Tribune’s executive editor and senior vice president for news, said he was not in a position to say whether the paper’s print readers would be returning. But Zeeck noted that the paper’s online readership climbed by 11.7% during the first two months of this year, to 819,000 from 733,300 during the same period in 2007.
Last edited by morgan (2008-03-29 19:48:56)
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6,109 fewer print sales of the TNT in 2007 than in 2006, but "online readership climbed...to 819,00 from 733,300;" it's hard to tell but it sounds like the TNT is - overall - moving ahead. Fewer trees used, that's certain.
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more on the topic in this week's issue of 'the new yorker' . . .
http://www.newyorker.com/reporting/2008 … ntPage=all
. . . --TODD
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That's a great article, OT. Here are some of my favorite snippets:
__Newspaper companies are losing advertisers, readers, market value, and, in some cases, their sense of mission at a pace that would have been barely imaginable just four years ago. Bill Keller, the executive editor of the Times, said recently in a speech in London, 'At places where editors and publishers gather, the mood these days is funereal. Editors ask one another, ‘How are you?,’ in that sober tone one employs with friends who have just emerged from rehab or a messy divorce. Keller’s speech appeared on the Web site of its sponsor, the Guardian, under the headline 'NOT DEAD YET.'__
__Until recently, newspapers were accustomed to operating as high-margin monopolies. To own the dominant, or only, newspaper in a mid-sized American city was, for many decades, a kind of license to print money. In the Internet age, however, no one has figured out how to rescue the newspaper in the United States or abroad. Newspapers have created Web sites that benefit from the growth of online advertising, but the sums are not nearly enough to replace the loss in revenue from circulation and print ads.__
_Public trust in newspapers has been slipping at least as quickly as the bottom line. A recent study published by Sacred Heart University found that fewer than twenty per cent of Americans said they could believe 'all or most' media reporting, a figure that has fallen from more than twenty-seven per cent just five years ago. 'Less than one in five believe what they read in print,' the 2007 'State of the News Media' report, issued by the Project for Excellence in Journalism, concluded. 'CNN is not really more trusted than Fox, or ABC than NBC.' The local paper is not viewed much differently than the New York Times. Vastly more Americans believe in flying saucers and 9/11 conspiracy theories than believe in the notion of balanced—much less 'objective' - mainstream news media. Nearly nine in ten Americans, according to the Sacred Heart study, say that the media consciously seek to influence public policies, though they disagree about whether the bias is liberal or conservative._
_Traditional media just need to realize that the online world isn’t the enemy. In fact, it’s the thing that will save them, if they fully embrace it._
Last edited by morgan (2008-03-31 06:52:07)
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Eric Alterman is learned and insightful and a very good read always. Thanks for the tip. As to the original question: Where does that leave the larger newspapers? there's a persistent murmur that Google will buy the New York Times. That would be interesting.
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from Radio Open Source...
This seems to be the moment in which the death of the American newspaper can be foretold with some authority — by Eric Alterman in this week’s New Yorker; by the new local owners of the great old papers...
DOWNLOAD MP3 PODCAST
Last edited by NineInchNachos (2008-05-14 20:01:22)
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Does it ever end?? (Actually, the Jay Rosen interview is really interesting - thanks. I agree, Author Sulzberger Jr. is definitely not "up to it." Google could indeed end up owning the Times.)
Last edited by billb (2008-04-02 18:18:35)
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On the watch list: The Seattle Times
"The Seattle Times Co. to cut about 200 jobs":http://www.crosscut.com/seattle-newspapers/13208/The+Seattle+Times+Co.+will+cut+about+200+jobs/
_The Seattle Times Co. today told its staff that it will reduce the newspaper's workforce by about 200, through layoff and attrition, and cut $15 million from the company's operating budget this year. Those figures are approximate, says spokesperson Jill Mackie. She said about two-thirds of the job cuts would result in actual layoffs, while a third are positions not presently filled. The company's Seattle-area employment is 1,845 full and part time people._
This is a disturbing trend. It goes like this: revenues are down, jobs get cut. For whatever reason, a high percentage of the cut takes place in the newsroom. With fewer writers, production spreads thenner, quality and coverage decrease resulting in a degraded product. End result: less revenue. The cycle then repeats.
Last edited by morgan (2008-04-08 07:10:26)
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More from Crosscut's series on the Seattle Times:
Here's a bit of advice I think more newspapers could use:
Stop trying to be a full-service news product. Make the Web site an indispensable guide to everything online, but don't try to create and provide everything.
In terms of original content, focus on core competencies: local and state news, business, sports, and investigations. Get back to basics on beat coverage. Don't be afraid to actually cover a meeting or news event. Own the City Hall, Port of Seattle, and Gates Foundation beats. Stop covering spot crime and traffic accidents. Let TV and radio do that. Write more about education, health, and science.
Stop going to Paris and Rio. Focus travel coverage on places you can get to in a day of driving. That would be [Tacoma]. Write about it like it's the exotic place it is, then resell those stories to media in other parts of the country.
Refocus the investigative reporting. If it's not a story with high local impact or a big local target, forget it. Focus on the institutions in our backyard.
Don't run anything on the editorial page that isn't local.
read more: How to turn around The Seattle Times
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Trib's own Mark Briggs shares some troubled thoughts
Last edited by NineInchNachos (2008-05-14 20:03:02)
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Counterpoint: McClatchy struggles while Black expands? Here's an interesting article on David Black's growing empire. Among the 150 papers he owns is Tacoma's Daily Index
Since Canadian media mogul David Black snapped up The King County Journal and nine other newspapers from Horvitz Newspapers Inc. two years ago, he has become Washington's largest publisher of community newspapers.
In the past several months, Black's Sound Publishing Co. subsidiary has bought more community newspapers, launched two new ones and increased the frequency of several publications from weekly to twice a week.
Link: As dailies retrench, Black expands his newspaper empire
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