Investment bank U.S. Bancorp Piper Jaffray released its forecast for the industry yesterday, predicting 20 percent compounded growth for the next five years. For 2004, Piper Jaffray expects the online ad industry to grow 21 percent, from $6.7 billion to $8.1 billion. The forecast mirrors a prediction of 20 to 25 percent growth released a day earlier by Smith Barney.
Newspaper advertising expenditures for the third quarter 2003 totaled $10.9 billion, an increase of 1.5 percent over the same period last year, according to preliminary estimates from the Newspaper Association of America. Total ad spending in newspapers for the first nine months was $31.8 billion, up 1.6 percent from the same period last year.
Creeping into the competitive equation more and more for alt weeklies is local cable TV. Program ratings have soared for years, and despite being raided on the subscription side by direct broadcast satellite services, ad revenue annual growth is well into double digits. On the national front, recent cable success with network-wary spirits advertisers has been one major source of concern for AWN ad sellers, but our knowledge of local cable was limited at best. A recent request by an AWN rep for some competitive local cable research, however, sent us digging for more background, intelligence and means to combat what seems to be a hot competitor for local ad dollars. Here are some of our findings.
The Net's increasing influence on consumers is pushing marketers to shift advertising and brand budgets online. Search will drive US digital marketing to $16 billion, or 4% of the marketing budget, by 2008.
Ron Curran (pictured), a "dogged, award- winning investigator and unblushing idealist" died this week in his Southern California home, according to his former employer, the LA Weekly. Curran, who left the Weekly after ten years to work at the San Francisco Bay Guardian, recently founded the alternative wire service, Pulp Syndicate. "Ron was one of the best writers and reporters I ever worked with," Bay Guardian Executive Editor Tim Redmond tells the Weekly.
Following weeks of finger pointing over a sudden decline in ratings among young adult men, the major broadcast networks are faced with an equally troubling, but somewhat less debatable decline in ratings among young adult women. Buyers suggested the latest development further reinforces the notion that the shifts taking place in TV viewing patterns are part of a fundamental change in the nature of media consumption driven by a generational shift and are not merely the result of lackluster programming or scheduling patterns.
"If you want your newspaper to appeal to young people, you must be willing to print the word 'fuck,'" says Eric Celeste, and Dallas' new, competing commuter tabs Quick and A.M. Journal Express apparently fail the test. Plus, they're not "smartly written," nor do they "reflect the world young people live in," violating two more Celeste rules for reaching the 18- to 34- year-old reader. But all is not lost, says Celeste: The papers do have some "utility."
"The heyday of the alternative weekly sports section" came to an end two weeks ago, according to Wired News, when The Village Voice discontinued its weekly sports section. "Since its inception, The Village Voice ... presented some of the most innovative, interesting and imaginative sports writing published," wrote Glenn Stout in his introduction to the 1996 edition of The Best American Sports Writing. "The Voice sports section made a regular practice of covering events and people no one else did in a way that was wholly unique."
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