From the Wall Street Journal via BuzzMachine (Jeff Jarvis) -
"Now, for the first time, pure-play Web companies have the biggest share
of the local online-ad market. In 2007, Internet companies had a 43.7%
share of the $8.5 billion local online-ad market, while newspaper
companies had a 33.4% share, according to the media research firm
Borrell Associates. Just three years ago, newspapers had 44.1% of the
local online-ad market. (Directories such as the Yellow Pages have
10.1%, and local television outlets 9.3%.)"
Jarvis goes on to note - "Newspapers are losing their own core market because they didn’t
understand the scale of the internet. They still thought mass when they
should have realized that small is the new big.
That is, online, newspapers still threw their lot in with the big
advertisers who had been the only ones who could afford their mass
products. They didn’t see the mass of potential spending in a new
population of small, local advertisers who never could afford to
advertise in newspapers but who now could afford to buy targeted,
efficient, inexpensive ads online."
internet is an entirely new economy. It’s not built on big. It’s built
on a mass of smalls. And newspapers think big. That’s their real
Read the entire post here.
Have you noticed that things are really changing out there?