Interesting piece by Suzanne Vranica and Jack Marshall in the Wall Street Journal the other day about newspapers chasing alternative revenue sources in the face of knee-buckling advertising losses.
Plummeting Newspaper Ad Revenue Sparks New Wave of Changes
With global newspaper print advertising on pace for worst decline since recession, publishers cut costs and restructure
Newspapers are suffering an accelerating drop in print advertising, a market that already was under stress, forcing some publishers to consider significant cost cuts and dramatic changes to their print and digital products.
Global spending on newspaper print ads is expected to decline 8.7% to $52.6 billion in 2016, according to estimates from GroupM, the ad-buying firm owned by WPP PLC. That would be the biggest drop since the recession, when world-wide spending plummeted 13.7% in 2009.
That decline is hitting every major publisher, increasing pressure on them to boost digital-revenue streams even faster to make up for lost revenue and, in some cases, even reconsider the format of their print products and the types of content they publish.
Or, in the case of the New York Times, consider becoming a travel agent.
A selection of Times house ads from the past week or so . . .
Two-page spread on October 16:
In case you’re interested (actually, TimesReaders are more likely to be intrigued):
Just FYI: Abercrombie & Kent “consistently goes above and beyond the call of duty — and no A&K journey is complete without that extra, unexpected ‘and’ that makes your experience unique and unforgettable.”
“And” $135,000, of course. Can’t forget that.
Then there was this full-page ad on October 20:
For the budget-minded:
And lastly, one for the kiddies this past Sunday:
That would be another $7000 for student journeyers, but why get technical about it.
(To be sure graf goes here)
To be sure, almost any way the Times can keep itself afloat is okay with us.
Actually, we sort of like those Monaco Grand Prix Posters.
But not at those prix.
We’ll wait for the 50% off sale.