The New York Times has yet another report about how advertisers are shifting their resources from print to online, and how the resulting revenue gap has everyone debating the future of newspapers:
Online spending is projected to continue to grow, and many newspapers are investing more and more in their Web sites. But so far, the online revenue is too small to begin to compensate for the losses from print advertising.
Mr. Parr, the Jupiter analyst, said that gap was going to force the industry to adapt to survive and that the February results were just a symptom of this larger struggle.
“There is absolutely no question that the next 10 years are going to be really bad for the newspaper business,” he said. “This is a time of wrenching change and chaos. All of our assumptions about newspapers are going to be changed. The format, the business model, the organization of newspapers have outlived their usefulness.”
February’s decline was even worse than usual.