If you want to understand just how screwed the print industry is, consider this (from PaidContent):
After adjusting the figures for inflation, total print ad spending last year of about $19 billion was below the level set in 1950. It took 50 years — a generation, in other words — for ad revenue to go from $20 billion to a peak of $65 billion in 2000, but it only took 12 years for that progress to be erased. Print revenue dropped almost 50 percent in just four years.
Seeing it in graph form is breath taking – revenues literally fell off a cliff after 2000:
While online ad spending has seen huge increases within the same time frame, traditional news companies have struggled to get their share of it, turning the content industry on its head and leaving everyone else to figure out how the hell to continue serious reporting and halfway decent writing.
Scary, and very interesting times.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.