Yes, it’s true, an analyst with Credit Suisse released an upbeat report about the future of newspapers. John Klim focused most of his praise on New York Times and Gannett, but he was upbeat about the industry as a whole. Klim says revenue troubles appear to be cyclical, and he believes newspapers will adjust their cost structures to succeed in a new digital world. “Newspapers’ reach remains impressive and the content remains relevant, even in this on-demand, highly fragmented media environment,” he wrote. But he said a recovery will likely not begin until late 2008. (You can bet this report is getting forwarded around a lot today.)
Meanwhile, a survey of hundreds of newspaper execs reveals that “more survey respondents project decreases rather than increases in 5 out of 8 ad revenue categories” for 2008. But online, “large increases are expected.”