Last month, Nikki Finke made waves by reporting that at least two major studios were about to cut back on advertising in the NYT, LAT, and other papers. Well, it’s too early to tell for sure, but it’s looking like Nikki nailed it, and that the Nikki naysayers were just engaging in reflexive skepticism. Today’s WSJ reports on the sagging newspaper advertising market:
Movie studios, long a mainstay advertiser, have been cutting back, as well. Through July, motion-picture advertising in the top 60 newspaper markets was down 9.3%, compared with the same period a year ago, according to TNS Media Intelligence, an ad-tracking service.
Of course, Finke predicted future cutbacks. So if she’s right, this 9.3% decline– nothing to sneeze at to begin with– will soon be followed by steeper drop-offs. Or, if she’s wrong, maybe not.
In other Finkewatch news, a well-placed anonymous source at Nikki Finke HQ tells us her column is now available at the OC Weekly website, and, beginning next week, will be online at the Village Voice. She’s the hottest LA media export since the ‘Morning Becomes Eclectic’ podcast!