JOUR 386 Lecture Notes - Lecture 4: The Boston Globe, The New York Times, Craigslist
21 Feb 2017
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Ny times buys and sells boston globe. Bought bg in 93 for 1. 1 bil. Sold it 20 yrs later for 70 mil. Many papers cutting down to 3 times a week. Putting ads on ebay, facebook, craigslist, etc. Newspaper ad revenue is less than half of what it was ten years ago. Newspapers lost another 8% in 2015 9th straight year of losses. Over 30 billion lost since 2000, nearly 22 bil of that since 2005. Circulation dropped 7% in 2015-largest decline since 2010. Forecast 2. 9% annual revenue loss next 4 years. Share fo local media spending forecast down. Draws over 161 mil unique visitors a month. Expected to grow by 5. 5 bil in 5 years. Not threatened by cnn or ny times but by hulu, netflix, etc. (in the sense of selling) For every dollar gained in digital, 7 dollars lost in print. Gains in digital media cannot keep up with the losses in print.
