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03 January 2009

Comments

Russ

Yes, and this morning our local newspaper was busy pointing the finger at our local government, demanding accountability and the end to double dipping, citing Florida statistics. I wonder of they could come up with some specific local data. How many double dippers do we have, one, two, three? I am sure they would never consider a government bailout, it would be double dipping. We would be paying for the paper twice, once with bailout taxes dollars and then again at the news stand. Is that not double dipping?

Russ

I was wondering if the County would use the 500K to pay county crews to remove the bush, or if they would hire local companies to remove the bush. I think it would be more of an economic stimulus if they hired local crews to remove the brush along the roads.

Russ Steele

Jeff Jarvis at the BuzzMachine has some thought on why the Newpaper business may need a bailout:

• Newspaper stocks fell an average of 83.3% in 2008—twice the fall of the S&P 500—wiping out $64.5 billion in market value, according to Alan Mutter’s Newsosaur blog.

• Since 1994—and the release of the commercial web browser—newspaper audience penetration has fallen a third, from 23% to 16%. In that time, circulation fell 14% (59 million to 50 million, according to the Newspaper Association of America) while population rose 20%.

• Viewership for network evening news continues to decline, to 23.1 million in 2007, according to Nielsen. The median age of network evening news viewers is 61 in 2008, according to Magna Global USA.

• Since 1994, newspaper print advertising revenue fell on an inflation-adjusted basis by 10% (from $34,109 million in 1994 dollars to $42,209 million in 2007 dollars, says NAA).

• Since 1994, the number of newspapers in America fell from 1,548 to 1,422, according to NAA.

• In 2008 alone, 15,586 newspaper jobs were lost, according to the Papercuts blog.

• In 2008, the Pew Research Center found that the internet surpassed newspapers as a primary source of news for Americans (following TV). For young people, 18 to 29, the internet will soon surpass TV, at nearly double the rate for newspapers.

• 54% of Americans do not trust news media, according to a Harris survey. A Sacred Heart University survey says only 20% of Americans believe or trust most news media.

• Jeffrey Cole of the University of Southern California Annenberg School’s Center for the Digital Future found in a 2007 survey that young people 12 to 25 will “never read a newspaper.” Never.

• In 2008, the American Society of Newspaper Editors took “paper” out of its name.

On the other hand Jarvis Reports:

• But newspaper online site audience has long since surpassed print circulation, reaching 69 million unique users in fall 2008, according to NAA.
• And the total online news audience is about 100 million—more than half total U.S. internet users—according to ComScore.

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