Web advertising "will continue to grow fast even as the current economic woes will lead to a contraction in ad spending overall, essentially accelerating the transfer of marketing budgets from the traditional media into the new," according to a new study by research group IDC. The group finds that overall internet advertising revenue will double from $25.5 billion in 2007 to $51.1 billion in 2012, making it the second-largest advertising medium, behind only direct mail. IDC predicts that video will be the fastest growing format for web advertising, but search will continue to be the format generating the most revenue.
The Journal, which was voted into AAN on Saturday in Philadelphia, will close after its next edition is printed this weekend, according to the Honolulu Advertiser. The paper, which was founded in 1999, was owned by Pacific Catalyst Publishing LLC, which also owns AAN member Honolulu Weekly. "The Journal faced a direct challenge for more than a year from the new Big Island Weekly published by Stephens Media Group," the Advertiser reports. Editor Peter Serafin tells the Pacific Business News that publisher Laurie Carlson told him Monday about the paper's closure but gave no reason for the shutdown. "It came as a complete surprise," he says.
A new report issued by The Media Audit reveals that 43.8 million adults have read an alternative newsweekly or visited an alt-weekly website in the past 30 days. The study, which looked at 117 papers in 88 markets, reveals an average readership of 374,296 adults in 2007 compared to 362,938 in the previous year, a 3 percent increase. In addition, the average number of unique monthly web visitors in 2007 is up nearly 7 percent from 2006. "One of the benefits for alternative newsweeklies is the opportunity to reach outside the city where papers are not as readily available," says Bob Jordan, president of International Demographics. "There are a lot of people who come into the city from the suburbs for entertainment and these alternative newspaper websites are positioned as one of the best choices for restaurant, live music, and concert recommendations." RELATED: BizReport says "advertising in alternative newspapers could result in a gold mine for many advertisers."
City Paper contributor Arthur Delaney has won the Street Sense David Pike Excellence in Journalism award for "Median Man," his story about "Billi," a man living in a tent on the freeway. Delaney will be honored at a ceremony this Thursday.
Peter Ladner defeated Sam Sullivan on Sunday for the mayoral nomination of the Non-Partisan Association (NPA), a civic-level political party in Vancouver. "He dresses well, runs a weekly business publication and is pleased to describe himself as a 'fiscally conservative' member of the generally right-wing NPA," reports the Globe and Mail. But the Canadian daily also notes that Ladner is an "ex-hippie" who was a back-to-the-land farmer raising goats and chickens in the 1960s. He later worked for "the respected alternative weekly, Monday Magazine," and had plans in the 1980s to launch a new weekly to compete with AAN member The Georgia Straight. Those plans fizzled out, and Ladner instead launched Business in Vancouver, a weekly business publication. The general election is scheduled for November.
Weekly attorney Rod Kerr last week argued for a stay of the predatory-pricing trial's $15.6 million judgment until 10 days after Judge Marla Miller rules on post-trial motions, which could have delayed the enforcement until July 28, the Guardian reports. Kerr said that the current economic turmoil combined with the company's belief that the judgment amount would be substantially lowered during post-trial rulings made it hard for Village Voice Media to secure a bond for the full amount. The judge granted a stay, but only until June 18. She also said she'd allow "the defendants to return to court to ask for more time if they can provide evidence showing how it will result in a bond being issued," according to the Guardian. When reached by AAN News, a representative from VVM said the company had no comment on last week's development. Both sides will appear in court July 8 for post-trial motions, including one by VVM to throw out the verdict and order a new trial.
The daily paper stopped by this weekend's AAN Convention, and found "a shared belief that alternative weeklies will do just fine in the age of cyberspace and newsroom downsizing." Baltimore City Paper managing editor Erin Sullivan says that as the economy tanks, the paper is reallocating resources, concentrating "on investigative reporting and increasing our criticism. ... Things that the dailies can't or won't do with the same level of depth." Philadelphia City Paper founder Bruce Schimmel tells the Inquirer that competition from blogs and other media has pushed alt-weeklies to be even more aggressive. "Everyone has access to your morgue," he says, "so you better get it right."
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