The real change in the news business
: AdAge reports on a McKinsey study on falling newspaper classified revenue:
[The study] warned that newspapers could lose $4 billion of “highly profitable” classified revenue by 2007 — or around 20% of newspapers’ 2004 classifieds revenue and just under 9% of the $46.6 billion in total newspaper ad revenue last year — if trends that afflict help-wanted classifieds spread to automotive and real-estate classifieds.
This is why it is necessary to find new models to support reporting (see Gillmor; and I’ve heard some other revolutionary ideas lately) and new ways to save money (for example) and new ways to get more news (repeat after me: citizen journalists).
