Facts ‘n’ figures: Why our jobs are going away

From a new American Journalism Review article by Paul Farhi of The Washington Post: “The most serious erosion has occurred in classified advertising, which once made up more than 40% of a newspaper’s revenues and more than half its profits. . . . During the first half of 2008, print classified advertising nosedived more than 25%, as withering job, real-estate and auto listings erased $1.8 billion in revenue from newspaper companies’ books.”

Farhi’s Don’t Blame the Journalism.

Yes, Craig really exists
And I talked to him (left) on occasion when I was a USA Today reporter. Founder Craig Newmark and CEO Jim Buckmaster run the giant free-classifieds site in San Francisco. And they reject assertions that Craigslist is mostly to blame for the industry’s problems: “There are bigger things that have been more problematic for newspapers,” Buckmaster told The New York Times in May; he cited circulation losses and basic mismanagement. “Newspapers have an enormous amount of debt. That is not something that can be laid at our doorstep.”

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8 Responses to “Facts ‘n’ figures: Why our jobs are going away”

  1. Anonymous Says:

    Which begs a question. How many newspaper people reading this site feel obligated to put their money where their mouths are and help the industry, not to mention their own employer, by using classified ads when they want to sell their used cars?

    Or do newspaper people vote with their wallets and purses by using Craigslist as so many others are? Who will ‘fess up?

    Me? I don’t work in the industry at all. I’d use Craigslist in a heartbeat. Free, instant and widely read. (Did I mention free?) What’s not to like?

  2. Anonymous Says:

    I don’t Blame Craigslist…they had an idea that met a consumer need. The newspaper industry should have done it first! But to say Craigslist is not responsible is naiive. They totally destroyed the classified print business, singularly and hands down.

  3. Anonymous Says:

    Actually, we had a car to sell. We advertised in the classifieds, got a call within an hour of waking up on Sunday morning, and had the car sold 5 hours later. Newspapers are not dead, people.

  4. Anonymous Says:

    my assistant , a recent college graduate found his roommate in NY city from craigslist.

  5. Anonymous Says:

    Has any newspaper company tried to partner with Craigslist?

  6. Anonymous Says:

    Craigslist is now one of the first absolutely free venues teenagers learn about when their hormones send them looking for nude photos. Deny it!

  7. Anonymous Says:

    If newspapers wouldn’t of got so greedy with the skyrocketing costs of classified ads over the last few years I dont think people would of bailed so quickly to craigslist.

    Classified ads in newsprint do work, but at what expense? Most realtors and “dirt lot” auto dealers admit that they cant afford print classifieds anymore.

    I compare it to the greed on wall street right now. Gannett is out of touch with middle America, therefore they find that their bread and butter classifieds advertisers are simply tapped out and just cant afford to line the pockets of greedy CEO’s at Gannett and Exxon too!

  8. Anonymous Says:

    Back when people were hiring and CareerBuilder was still a joke, our middle of the country paper was charging over $155 an inch for employment ads while open rate was less than $40.

    Small wonder other avenues opened up – but it was fun while it lasted.

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