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Monday, March 14, 2011 4:40:43 PM
CHART OF THE DAY: Why The Newspaper Industry Collapsed
Want to know why the newspaper business has collapsed? Look at this chart from Marc Cenedella, CEO of TheLadders.com.
He shows ad revenue from help wanted classifieds dropping 92% in last 10 years, hitting $723 million last year, down from $8.7 billion in 2000. Once that easy money left the newspaper industry it was a lot harder to earn as much profit.
Cendella says it didn't have to be this way: "Newspaper executives knew what had to be done to compete successfully in the future but were afraid to upset the people responsible for the past. It was a lack of courage, not a lack of clarity."
Read more: http://www.businessinsider.com/chart-of-the-day-newspapers-classified-ads-revenue-2011-3#ixzz1GbnFOrkX
Want to know why the newspaper business has collapsed? Look at this chart from Marc Cenedella, CEO of TheLadders.com.
He shows ad revenue from help wanted classifieds dropping 92% in last 10 years, hitting $723 million last year, down from $8.7 billion in 2000. Once that easy money left the newspaper industry it was a lot harder to earn as much profit.
Cendella says it didn't have to be this way: "Newspaper executives knew what had to be done to compete successfully in the future but were afraid to upset the people responsible for the past. It was a lack of courage, not a lack of clarity."
Read more: http://www.businessinsider.com/chart-of-the-day-newspapers-classified-ads-revenue-2011-3#ixzz1GbnFOrkX
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