Who on earth would want to be in the newspaper business right now? With the Merrill Lynch analysts' report "Deep Depressing Dive," released before the weekend, saying they have taken an "increasingly sober" outlook for the newspaper industry in lowering newspaper ad spending estimates once again. Merrill Lynch has dropped newspaper ad revenue estimates for next year from 1.4 percent to 1.1 percent, and expects 2006 newspaper ad spending to rise only 1.2 percent instead of its earlier estimate of 1.8 percent. I mean, with the growth of Internet ad behemoths like “CraigsList” and others, there is no possible way they can recoup the continuing loss of revenue, particularly in classifieds. The only bright spot in the whole thing is that it may hurt the “Wizened of Oz’s” newspaper empire. But then, as he’s buying everything else, I’m sure he has a plan. YaThink?
Don't worry, I'm sure Mr. Murdoch has a plan.
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» Newspaper Industry: Deep Depressing Dive from Beyond PR
This is how Merryl Lynch titled its report on the US newspaper industry. The culprit? media consumption habits are changing (more screen, less paper) and advertising/classifieds business is moving online. Interestingly, the report's analyst think tha... [Read More]
Tracked on: May 31, 2006 2:15 PM | Permalink to Trackback