Increasingly Publications are Banking on Digital Ad Revenue
The entire world is undergoing massive changes in every sphere of life and media is no exception. News rooms are shrinking and print revenues are slipping as consumers have plenty of options in hand and new content is just one click away.
Publications, that have seen some glorious decades or may be a century are reshaping, remodeling and considering new ways to ramp up business.
The New York Times like many of its competitors has been experimenting actively to find a suitable new business models that will turnaround things for the business. It might be planning to expand its global presence, at least that's what the recent venture of the publication suggests. It started producing a Spanish version for Latin America with a probable eye on a global future.
On Thursday, the New York Times said its digital advertisement revenue in Q2 slipped 6.8 percent compared to last year's same period. Along with that, there was a 14.1 percent drop in print advertising. The total ad revenue dropped 11.7 percent.
One upon a time the lion's share of revenue for iconic publishers like The Times came from print advertising and circulation revenue, but that's history now. At present the industry banks on gains in digital advertising which helps counter balance declines in the print advertising.
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