Wednesday, February 4, 2009

Crisis.. We haven't seen the bottom of it yet

I was at a press conference today, when I met this gentleman.. He said: Oh, I like your newspaper, it is reader-friendly. No advertising. 
I smiled as fit to someone who just received a compliment. He added: You know other newspapers have become less cluttered as well. I used to get bored with all those advertisements. 
Walking back to the newspaper, I met the head of sales and told him the story. He lacked all sense of humour. 
A report released by PriceWaterHouseCoopers predicted the advertising growth to drop from 41.5 percent in 2008 to 6.7 percent in 2009. I thought to myself, well here is a real dramatic plunge for a very ambitious market. Then my boss cynically said those were old figures. The drastic change in the past few weeks have altered the whole equation. No, it is not going to be a growth of 6.7 percent this year, but rather a negative growth of 70 percent! 
Yet, since I work in a newspaper I am not allowed to talk about print media. However, a small hint might draw a more vivid picture. Tomorrow's edition has 2 quarter and one half page ads. That's all.


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