GRIM Year Predicted for Newspapers - Recruitment Classifieds Down Near 20%
Found this online.... When the print ads start drying up you can be sure the online conterparts to these print publications will be coming up with new and novel strategies to get in your wallet. This is a time when we all must be very careful in our advertising spends. Look at your metrics, talk to your industry colleagues, demand solutions that meet your needs - and by all means do not be afraid to walk away. Remember - you have the power now!
http://publications.mediapost.com/index.cfm?fuseaction=Articles.showArticleHomePage&art_aid=74025
http://publications.mediapost.com/index.cfm?fuseaction=Articles.showArticleHomePage&art_aid=74025
| Goldman Sachs Predicts Grim Year For Newspapers |
| by Erik Sass, Thursday, Jan 10, 2008 7:45 AM ET |
| NEWSPAPERS WILL TAKE IT ON the chin in 2008, according to analysts with Goldman Sachs, who warned Wednesday of a potential double-whammy, as the industry's secular downturn converges with a broader economic slowdown. Overall, they forecast a 7.9% decline in revenue, a much more substantial drop than their earlier prediction of just 2.6%.
The predicted 7.9% drop is especially gloomy as it comes after several years of losses, compounding a 1.8% decline in 2006 and a roughly 8% drop in the first three quarters of 2007 compared to the same period in 2006 (fourth-quarter figures aren't yet available).
As always, the collapse in classifieds leads the way. In a note to clients, GS said: "We expect the classified categories to be very weak with the real estate, help wanted and auto categories particularly sensitive to broader economic activity." All three categories are also suffering from intense competition from the Internet. The downturn in the housing market has led to a meltdown in real-estate classifieds in particular, with overall real-estate classifieds falling 24.4% in the third quarter of 2007, compared to 2006. Recruitment is down 19.7%, and automobiles 17.7% in the same period. As a result, GS cut earnings forecasts for the New York Times Company, McClatchy, Gannett, Belo, Journal Communications, and E.W. Scripps. |
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Online print ads and general online marketing has been increasing for the last few years and it's expected to continue growing because of the possibility of higher exposure and lower cost.
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We need to expect that this will happen. Global financial crisis will never stop until next year doe sure. I just hope that each and everyone of us is ready for this kind of thing.
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At the time of financial crises we need to come together united and try to solve the problems which are responsible for such a hazard. We need to overcome it. It is meant to bring calm to the population and markets and display government strength and stability.
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We expect the classified categories to be very weak with the real estate, help wanted and auto categories particularly sensitive to broader economic activity
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Hiring official initiates the search process by forming the search committee and involving them in the development of the position and writing the position description.
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What to say about recruitment these days. Its the time of re-session. Company are reducing their employees. Infosys has dismissed its thousands of employees and many other companies are doing same.
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The battered U.S. labor market took a step backwards last month as employers trimmed more jobs from their payrolls in June, according to a government report Thursday.
There was a net loss of 467,000 jobs in June, compared with a revised loss of 322,000 jobs in May. This was the first time in four months that the number of jobs lost rose from the prior month.
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Every blog at a company is a recruiting blog. I remember the first time I was taken aback when someone said "I joined Microsoft because of your blog." It's happened several times since then.
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These are temporary measures with no cure for the terminal disease. The U.S. economy is seriously ill with uncontrollable expenses, high debt, sky-high living, unwanted wars and an overemphasis on the so-called “American dream.”
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Is recruitment consultancy business booming in Chennai now? Is it advisable to venture into this business?
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NEWSPAPERS WILL TAKE IT ON the chin in 2008, according to analysts with Goldman Sachs, who warned Wednesday of a potential double-whammy, as the industry's secular downturn converges with a broader economic slowdown. Overall, they forecast a 7.9% decline in revenue, a much more substantial drop than their earlier prediction of just 2.6%. The predicted 7.9% drop is especially gloomy as it comes after several years of losses, compounding a 1.8% decline in 2006 and a roughly 8% drop in the first three quarters of 2007 compared to the same period in 2006
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There was a net loss of 467,000 jobs in June, compared with a revised loss of 322,000 jobs in May. This was the first time in four months that the number of jobs lost rose from the prior month.
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The long-term forecasts for newspaper ads are fairly grim. From 2007 to 2011, ZenithOptimedia foresees a drop in 22.7 percent in ad spending. Levy expounded much the same idea in May with his prediction that advertising in print media will not improve in the next two years.
Overall, global advertising will see a slight rebound in 2010, helped by the Winter Olympics, the World Cup and the US midterm elections. Until then, Internet ads are the only foreseeable bright spot.
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