We live in interesting times.
Ad Age reports third-quarter ad revenue plunged 21.5% at the big three broadcast networks, according to the Broadcast Cable Financial Management Association, which releases figures for ABC, CBS and NBC that are compiled by auditor Ernst & Young.
The New York Times reports today that The Los Angeles Times plans to cut jobs throughout the newspaper, including about 85 of its 1,032 newsroom jobs.
Hollywood is hurting. The recording industry is suffering. Book sales are down.
I could continue with this laundry list, but there’s no need. The evidence of shift is all around us. What I find interesting is the various responses to these sea changes. AOL, a company I have never cared for, made a smart move earlier in the week by announcing they will offer classic TV shows like “Welcome Back Kotter” for viewers to download at their convenience. Take that TiVo!
Yet sadly, too many mainstream media execs continue to flounder. Even NPR has shown signs of head-in-the-sand behavior, for which there is simply no excuse.
