Faster, Better, Cheaper: Making Money in a Digital World
The economic recession which hit most of the world last year has affected newspaper publishers badly. Advertising revenues have plummeted in many markets - in the US, by 29% between their peak in 2000 and the last full year of figures in 2008. They have fallen a further 30% in the first half of this year. If this trend continues their take will be a full 50% lower than its peak in 2000. 160
Advertisers have also cut back on their TV spending. Globally, the industry is likely to be down about 7% in 2009 over 2008; in many countries the figures are far worse. This is the first year television advertising has fallen since figures started being compiled. 160
The music industry has also suffered, with revenues dropping by an estimated 28% between 2000 and 2008. Yet evidence suggests that people are accessing more news content, watching more television, paying more at the cinema box office and listening to more music than at any time in history. 160 So what is going on?
