Monday, May 21st, 2012
As reported in the NY Times today, The Gannett Company, the nation’s largest newspaper publisher, said yesterday that its second-quarter profit fell 4.5 percent as costs rose and advertising revenue dropped at its 21 TV stations and its flagship newspaper, USA Today. Here’s the important part …. Profit in the broadcast unit, the largest owner of NBC affiliates, dropped 15 percent as NBC’s ratings tumbled. The Washington Business Journal states that Gannett blames a lower level of political advertising and weaker demand for television ads, particularly automotive ads. Additionally, MSN reports that Knight Ridder reported a 14 per cent slide in second-quarter profits. Hmmm … is someone trying to tell us that traditional media isn’t working anymore? Seems like some of the brand managers have decided to spend their $$$ in a non-traditional way!
