In his presentation at Northampton County Community College, Morning Call publisher Tim Kennedy talks about a paradox in the newspaper business. Its reach is greater now than ever, but the economics have never been worse. He then declares that the commonly held belief that newspapers are dead or dying is a myth.
According to Kennedy, journalism is supported by advertising revenue. At one time, newspapers had a near monopoly, but that has changed in recent years.
* Over the past five years, most newspapers have lost about 35% of their advertising revenue.
* The Morning Call has lost half of its profitability.
* Since 2005, The Morning Call has lost $13 million in revenue from "Help Wanted" ads alone.
* That $13 million figure is higher than his budget for newsroom operations today.
Journalism has had nothing to do with this failure. Craigslist yes, but not journalism.
Kennedy likens The Morning Call today to a start up company.
11 comments:
Tim Kennedy looks very youthful and hardly looks lke some coporate monser.
Don't judge a book by it's cover...
Not sure he debunked anything.
The revenue declines continue at double digit rates at most newspapers, and will accelerate in a few more quarters after they've cycled the benefits of the expense reduction carnage.
The remark about "making it up as we go along" speaks for itself.
I look forward to the paper everyday. I subscribe to one at home, and skim the other during lunch at work. Without naming papers, which do I find more useful? The one that still tries to send reporters out to cover local news. With Google News and the internet one can cover the national stories in one screen (ironically by clicking to links to the newspaper industry its stealing from). Lesson? Local papers should stop cutting local staff, and meet that niche. Local news and local sports. People still like to be connected to their home town. When one paper changed formats away from a designated "local" section and stopped covering news outside of Allentown and Bethlehem as much, it took two steps backwards compared to the other paper.
He is not from the valley and it shows. I don’t even take the rubber band off the paper anymore.
Scott Armstrong
Kennedy is some silver spoon douchebag they brought in. If you ever meet him you swear you are talking to a blond.
I get my news online and real time like everyone else under the age of 65 today.
Newspapers will be gone by 2012 I promise you that. Say what you wish or think what you want but they cannot possibly stay alive for much longer.
With assholes like Deegan thinking they are relevant, I'm glad they are going!
Debunking the debunker:
http://newsosaur.blogspot.com/2010/03/2010-may-be-even-worse-for-newspaper.html
now Kennedy quits...Ironic
didn't quit. he was forced out.
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