When I arrived in Canada in August 2007 I got to speak with three print media giants in their own area, The Yellow Pages, Winnipeg Free Press & Winnipeg Sun, in that order.
I told each and every one of them that they needed to change outlook and the way they operate to make dollars and survive going forward, all thought I was some cocky nut from Blighty.
Funny how things work out, The YP, they owned autotrader at that time and took what I told them as a slap in the face on how they needed to change direction on how they advertise, worked online etc., they sold it to the Brits losing $500 million dollars. Full Story Here
Then I spoke with the Free Press on a couple of occasions thinking I might get more traction in my adopted city, they had a circulation of around 500,000 at the time if we believe the stats, again they thought this guy is nuts, all he does is go on about Online, Google and Social Media, we are starting our own stuff on our website selling cars, real estate and banner ads, we know what we are doing, a few years later they tell me they are doing their own app and this is going to be killer, I asked for who?, I learned last week they are changing again as all this has not panned out as expected, were losing revenue and oh we are building a new website too.
Thirdly the Winnipeg Sun, I had a great meeting with the then boss Kevin Klein, a nice guy who actually had some idea of what the future might hold, but unfortunately they were tied to some boat company and there advertising ways, not good either, so today they announce they are laying off 500 workers to save $45 million a year. Full Story Here
The morale of this story, don’t judge a book or the person even if the book might be slightly X Rated, if that book has been a best seller around the world, maybe, just maybe they could be something in there your missing that could help.
The world has changed dramatically on how we get news, tweets to our tablet hours before the main news announce it, mobile uploads at the scene, if you have not lived this way of life for the last decade it’s very hard to catch up.
Shit Kickers we are, we have never denied that, but it’s all for our clients, when they win we win and we win alot.
As part of the restructuring, the company will consolidate its print and online operations in Chicago, keeping a “small editorial and sales presence in New York,” but it expects to sublet its existing office space and move some licensing, editorial and publishing positions to Chicago — a move that is likely to lead to more layoffs.
The company promoted Jimmy Jellinek, previously division senior vice president of digital content, to editorial director of combined print and online content. That appointment was first reported by The New York Post on Thursday. Jellinek, former editor in chief of Maxim, will report to Hugh Hefner and be based in Chicago. Chris Napolitano, former editorial director of the magazine, will now serve as editor at large based in New York, as family obligations have prevented Napolitano from making the move to the Windy City.
Do people read the newspaper anymore? That is the question many newspaper publishers across America are asking themselves on an ever more frequent basis.
According to a recent article published in PRWeek Magazine, the outlook for newspapers is going from bad to worse. Barraged from all sides by online community websites like Craigslist.com which offer free local classifieds, to pay for ad sites such as Autotrader.com which offers ads for new and used cars and Realtor.com which offers over 3 million home listings nationwide, classified ad revenue is quickly drying up for the traditional newspaper.
The numbers are not looking good for the largest players in the industry. At Gannett, the largest U.S. newspaper publisher as measured by total daily circulation, its USA Today advertising pages are down 17% while real estate ads in its community papers are off 20%. News Corp is also feeling the pinch with Dow Jones classifieds down 14% and overall ad revenue has fallen 20%.
Even the most famous paper in the world, the New York Times, has fallen on tough times as earnings per share for parent company New York Times Company have dropped by more than half in the second quarter.
The future does not look any brighter for newspapers as a report by Fitch Ratings states. “As participants gain comfort with online media, they will be less likely to return to the print product in the future.”
To their credit, most major newspapers have created online editions to compliment their traditional print publications, but so far, the newspaper industry has not yet come close to making its rising online ad revenues equal to their falling print ad revenues. As PRWeek put it, if this trend continues, newspapers may end up going the way of the “horse and buggy in the new media Daytona 500.”