Craigslist Has Cost U.S. Newspapers $5 Billion
Craigslist has cost U.S. newspapers around $5 billion in revenue since 2000, according to a new study which will be published in the journal Management Science, which looks at classified ad sales from 2000-2007.
The Raw Story reports that the study attributed this loss to Craigslist, which has taken away the sales of classified ads from local newspapers. Here is more from the Raw Story:
The $5 billion over the 2000 to 2007 period is a conservative figure, “and if we extended the study to 2012 it would probably be a lot higher,” said Robert Seamans of New York University’s Stern School of Business, and a co-author of the study.
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