New York Times Revenue down over 10%
August 26, 2008
New York Times Co. said Tuesday that its July revenue from continuing operations fell 10.1 percent this year as advertising revenue slipped 16.2 percent. Overall revenue dropped to $235.9 million in July from $262.3 million in July 2007, . the publisher said
Our point is that it’s still $235.9 million being burnt with little hope of ROI.
Yet Advertising Agencies continue to dump massive client money into this money losing project at the expense of measurable results, such as interactive, seo, sem, social media..
The print media industry has been in decline for years as well as TV viewership among key age groups. However, we here at Tribble feel that what you don’t know won’t hurt you. We make our clients feel secure by telling them that the internet is NOT as big as it seems. It’s just a lot of “fluff” and is actually on the decline, in fact the Internet is just a fad. We love to spend our clients money in this way. It’s great for the ad agencies like ourselves because you can’t really track ROI with the print media strategy, so the client can’t tell how much we are wasting. It’s a wonderful feeling to see our clients’ budgets get blown out the water and yet the client believes that we did something, well something postive that is.
Then of course:
We figure we have at least 5 years left to rake in the cash.
Funny thing, that article was posted in 2006, here we are 2 years later in 2008… and it looks like we were right on target.
Call us Nostradamus
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When I first read this, I wasn’t too concerned about the declining online ad growth.
But then I looked a LOT deeper at the data, and now I’m concerned about the long-term future of NYT and other newspaper-based online entities.
I just finished an explanatory and somewhat alarming blog post about it, with charts and graphs and such.
“Why Barack Obama and Blogs Are Killing the New York Times Online” https://is.gd/Ste
Jason Baer
Convince & Convert - Internet consulting for agencies
https://www.convinceandconvert.com
The print media industry is heading for a depression, not just a recession.