Dark news for newspapers as report cites seven print-ad dollars lost for every digital dollar gained
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In its latest sweeping study about the media industry, the Pew Research Center's Project for Excellence in Journalism took a look at the private financial data for 121 newspapers and conducted interviews with executives at more than a dozen major companies.
"The search for a new revenue model to revive the newspaper industry is making only halting progress but ... some individual newspapers are faring much better than the industry overall and may provide signs of a path forward," write authors Tom Rosenstiel and Mark Jurkowitz.
Halting progress doesn't sound too good. But in fact the overall picture is worse.
"In general, the shift to replace losses in print ad revenue with new digital revenue is taking longer and proving more difficult than executives want and at the current rate most newspapers continue to contract with alarming speed."
"Most papers are not putting significant effort into the new digital revenue categories that, while small now, are expected to provide most the growth in the future," the authors write. "To different degrees, executives predict newsrooms will continue to shrink, more papers will close and many surviving papers will deliver a print edition only a few days a week."
The stand-out statistic media watchers are circulating this morning is that for every $1 gained in digital revenue, another $7 are lost in print revenue.
You can read the full report here.
In other news...
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