New York Times Revenue Falls 14% As Internet Migration Takes its Toll
http://online.wsj.com/article/SB122175186687452599.html?mod=googlenews_wsj
The New York Times ad revenue fell for the month of August, this year alone its ad revenue has fallen 14%. This decline in revenue is blamed on the expansion of internet based news web sites that allow users to view news articles online for free. The media giant’s online sales have increased steadily over the past few years and have made substantial profits. Its online revenue has risen 10% since last August. Classified ads and help wanted ads have fallen the most in the written publication. This has been attributed to the sluggish economy along with the push for news on the internet. August was actually a rather good month for the Times, this increase in reader interest was attributed to the Olympics and financial shocks that have happened in the past month. This has made people more interested in the recent news and has increased sales. I think that the print news industry is a dying medium. The news companies need to find ways to make money on the internet or they will go out of business soon. Many people today do not bother reading the news paper and rely solely on internet sources for daily updates on the happenings throughout the world. Companies can do this by selling ads on web sites that will create revenue while people read the material for free. Another way to make money on the internet is to charge a subscription fee for news articles. This might seem like a better solution, but people will be reluctant to pay for online news when they can get it for free.
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