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Newspapers Seek 'New Media' Audience
With newspapers’ circulation and advertising revenue flagging – and parent companies’ stocks tumbling – papers are turning to a new array of media to reach a wider audience. Newspapers are increasingly branching out into new paper publications, television and radio services, Web sites, podcasts and transmissions to cellphones. "I don’t think I’ve ever seen the sense of innovation and willingness to take risks that I’m seeing now,” John Kimball, chief marketing officer of the Newspaper Association of America, told USA Today. Total newspaper weekday circulation declined about 2.4 percent from 1999 to 2004.
Story Continues Below Spending on newspaper advertising fell 2.7 percent over the first nine months of last year – while Internet ad spending was up 22.5 percent over the same period. Overall, the collective value of newspaper company stocks dropped 20 percent last year. Faced with these troubling numbers, newspapers have begun to adjust:
With newspapers losing share and circulation, said MG Strategic Research President Miles Groves, "you’re going to have to have a major shift in the business model with something broader than ink on paper.”
Editor's note:
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