Hey! There actually is news that has nothing to do with tomorrow’s election! Of course it mainly has to do with the demise of print media, which is sadly not a story that is going to disappear after 11pm tomorrow night when the last polls close. Seems that even after last week’s black media week, some industry hopefuls are apparently holding on to the theory that print will make some kind of recovery in the next two years as the economy eventually picks up and advertisers return. To this we can only respond: Seriously? This ship is sinking! Not to be pessimists but we suspect Nat Ives’ worst case scenario projection is somewhat more accurate:
In the worst-case scenario, however, advertisers won’t come back. The downturn will drive them into the arms of efficient electronic media that can better demonstrate a higher return on investment…Marketers will get the hang of building friendly social networks and advocates around their brands, undermining their interest in the trusted brands of newspapers and magazines.
Also? We suspect a lot of these print folks who are used to their glossy lifestyles, and salaries, and offices are not going to like the online world of small paychecks and non-existent expense accounts. Meaning, we imagine, the drive to figure out how to make comparable money in online advertising will soon be doubling its efforts — necessity is the mother of invention, sort of thing. To this end Yahoo recently launched APT, meanwhile according to the Times others are hoping the answer may be found locally).