‘Newsosaur’ Alan Mutter says that 2007’s record low revenues may actually worsen this year:
After suffering the worst sales decline in nearly 60 years in 2007, American newspapers could be heading to an even deeper drop in 2008, based on the industry’s performance in the early months of this year.
If sales continue deteriorating at the same dismaying rate for the balance of the year, the resulting revenue crisis will threaten the economic viability of the financially weakest and most debt-ridden newspapers – and the journalistic mission of nearly all of them.
[Continue reading Crisis Mounts]
Don’t panic. That is unless you own or work for a big city newspaper. Mid-size newspapers continue to hold their own. Small newspapers are flourishing. And there are still plenty of jobs for those with the skill and drive to pursue a career in journalism. But things are definitely changing within the business, and it bears watching.