Using five years’ worth of data from the Council of Economic Advisors, LinkedIn has calculated how the job rate has grown or declined in various industries, finding that between 2007 and 2011, the U.S. newspaper industry shrunk the most of any other industry analyzed, LinkedIn reported. While the “internet” category and “online publishing” are two of the fastest growing industries, up 24.6 percent and 24.3 percent, respectively, from 2007 to 2011, the newspaper business lost the greatest percentage of jobs, down 28.4 percent, Business Insider explained. Such depressing numbers about the newspaper industry should come as no surprise considering that, in 2007, The New York Times Company was trading for about USD 25 a share, and in February 2012, USD 6.56, according to another Business Insider article. And as The Atlantic pointed out with some telling graphics, print advertising in newspapers has “collapsed.” Despite the growing internet and online publishing industries, a new report from the Pew Research Center’s Project for Excellency in Journalism showed that newspapers’ online advertising revenues are not making up for print ad , as for every USD 1 gained in digital advertising, USD 7 are lost in print revenue
Most printed newspapers in the United States will last only another five years, says a new report from the USC Annenberg Center for the Digital Future, reported LA Weekly. Released Wednesday, Dec. 14, the report, “Is America at a Digital Turning Point?,” looks at 10 years worth of studies from the Center for the Digital Future. According to the report, only the very largest and very smallest newspapers stand a chance: “It’s likely that only four major daily newspapers will continue in print form: The New York Times, USA Today, the Washington Post, and the Wall Street Journal. At the other extreme, local weekly newspapers may still survive.” Other findings from the report include the lack of credibility in social media content, and the impending replacement of the PC by the tablet computer within three years. “At one extreme, we see users with the ability to have constant social connection, unlimited access to information, and unprecedented buying power. At the other extreme, we find extraordinary demands on our time, major concerns about privacy and vital questions about the proliferation of technology – including a range of issues that didn’t exist 10 years ago,” said Jeffrey I. Cole, director of the Center for the Digital Future, according to the center’s website.
New York Times media critic David Carr has struck a populist nerve with his latest column. In his Monday “Media Equation” piece, Carr admonished Gannett, the massive print and broadcast media chain, for an editorial from its own USA Today about the Occupy Wall Street protests. In the editorial, the newspaper decried the Wall Street bonus system, listing it as one of the good reasons for the weeks-long protests.
Carr found this a bit hypocritical. “If you were looking for bonus excess despite miserable operations, the best recent example I can think of is Gannett, which owns USA Today,” he wrote. Thousands of readers were incensed by the column — in a good way. Some 235 people commented on it, many reacting with the same disgust Carr expressed. “I have always been mystified by the rarified ranks of the uber-execs who command these kinds of salaries in any industry. It seems to be some kind of club like Skull & Bones that once you are admitted, you are set for life,” Richard Williamson of Dallas wrote. “it’s disgusting watching these failures award themselves millions for destroying tens of thousands of lives,” Linda from Brooklyn wrote. “but it does speak to the overwhelming corruption of american corporate ‘governance.'” Other media critics, like the Guardian’s Roy Greenslade, chimed in as well: The ever-readable New York Times media commentator David Carr has contrasted what a newspaper says with what its publisher does.”
Carr, who has turned into a media star himself over the past couple of years, is no stranger to going after corporate excess or malpractice – whether he’s exposing the “bankrupt culture’ at Tribune or a history of ethical lapses at News Corp. properties. The problem at Gannett, he argued, is that while the company’s stock price continues to tank and workers lose their jobs, recently departed CEO Craig A. Dubow netted $37 million upon announcing his resignation. And that’s on top of the sky-high salary he has been earning. Yet if most agreed with Carr wholeheartedly, other readers seemed to think he picked the wrong target – keep the focus on Wall Street! Still others felt this was nothing revelatory, that this is rather obvious. And, of course, some had proposals for new targets to occupy. Occupy Wall Street! Occupy Newsrooms! Occupy Everything
Call it a sign of the changing times: The Huffington Post had more unique visitors to its website than the venerable New York Times in May, outstripping the Grey Lady’s web traffic for the first time, according to data from market research firm comScore Inc. The newspaper, owned by New York Times Co., has been experimenting with a new online revenue model for two months now — a paywall that charges readers for access to more than a certain number of articles. In April, the first full month of the paywall, nytimes.com had 32.9 million unique visitors, still ahead of huffingtonpost.com’s 29.9 million. But HuffPo took the lead in May with 35.6 million unique visitors compared to 33.6 for the NYT. For the period from May 2010 to May 2011, the New York Times’ website hit a high of 38.1 unique visitors in March 2011, just before the introduction of the paywall. HuffPo — the popular online news site that offers a combination of aggregation and original reporting and recently launched a Canadian version — has yet to see those kind of numbers. In terms of newspaper websites, the Washington Post, LA Times and Wall Street Journal followed with 19.9 million, 18.4 million, and 13.9 million unique visitors respectively in May 2011, according to comScore
The publisher of the New York Times warned Wednesday that it would slip into the red for the third quarter because advertising revenue was falling short of expectations, both on the internet and for its print editions. Shares in the New York Times Company (NYTC) dropped by more than 5 percent on Wall Street following the gloomy update, delivered by chief executive Janet Robinson at a media conference hosted by Goldman Sachs in New York. The NYTC’s bearish news is likely to heighten fears that the media industry is struggling to pull out of a long advertising recession, amid signs that America’s broader economic recovery is stalling. The company owns the New York Times, the Boston Globe, the International Herald Tribune and 15 regional US newspapers, plus dozens of websites. It said its total revenue was likely to fall by 2 percent to 3 percent over the three months to September, compared to the same period last year, as a 14 percent rise in digital advertising failed to compensate for its weakening newsprint editions. Analysts had forecast a 1 percent revenue decline. The digital revenue increase was slightly short of its previous guidance of growth in the “mid to high teens”. Meanwhile, both print advertising revenue and circulation income were likely to fall by 5 percent, the company predicted
The New York Times introduced Facebook integration earlier this week, allowing users to more easily share stories to Facebook, and see what stories their friends have already been sharing. It’s using the social plugins that Facebook launched in April, including the Like/Recommend Button, similar to what rivals like The Washington Post have already been doing. The integration is opt-in and merges a user’s existing nytimes.com account with their Facebook network; after doing so, the user will be able to see which Facebook friends have recently recommended stories, and lets the user recommend stories to Facebook directly from nytimes.com. The Times notably chose to use a closed system whereby users will only see activity from their Facebook friends but not from other Facebook users. Part of this feature is also to aggregate the most recommended stories into a feed on the Times’ web site. The New York Times created a FAQ section for users with questions about the new set up.
A December cyberattack on Google Inc computers hit the company’s password system that millions of people worldwide use to access almost all of the company’s Web services, The New York Times said, citing a person with direct knowledge of the investigation. The closely-guarded program is considered a crown jewel at Google, enabling users and employees to sign in with their password only once to operate various services including e-mail and business applications, the newspaper said in its April 20 edition. Code-named Gaia for the Greek goddess of the earth, and still in use under the name Single Sign-On, the program was described publicly only once at a technical conference four years ago, the newspaper said. The intruders do not appear to have stolen passwords of Gmail users, and Google quickly started to bolster security, the newspaper said. But the theft leaves open a possibility, perhaps faint, that the intruders may find weaknesses that Google might not know about, the newspaper said, citing independent computer experts. Google disclosed the hacking on Jan. 12, when on its website it reported having detected “a highly sophisticated and targeted attack on our corporate infrastructure originating from China that resulted in the theft of intellectual property from Google.”