Another New Media Victim?
August 10th, 2008 by Chief NutThe Star-Ledger, New Jersey’s largest newspaper, reports they’ll be forced to sell unless 200 non-union employees accept a buyout. Publisher George E. Arwady described the paper as being “on life support.”
NJ.com stated in their report of the announcement;
The offer comes at a time when the newspaper industry is reeling from plunging advertising revenues linked to a troubled economy and the growth of online media.
Other troubled businesses and industries you’ll want to keep an eye on (and the New Media forces causing their woes).
- Newspapers
Blogs, Forums, Communities, Niche Portals - Travel Agents
Online travel sites like Travelocity.com - Yellow Pages
Google.com / Online Search - Map Makers
MapQuest.com, Maps.Google.com - Encyclopedias
Wikipedia.com - Music/CD Stores
MP3s and online stores like iTunes.com - Libraries
The Internet at large - Movie Theaters
NetFlix.com - The Recording Industry
MP3s and File Sharing - Broadcast Video Channels MTV / VH1
YouTube.com - Photo Film Development
Digital cameras / flickr.com - Aerial Photography
Satellites and Earth.Google.com - Radio Stations (as we currently know them)
iPods/Zunes and iTunes.com - Small generic book stores (boutique/niche shops have a chance)
Amazon.com, Borders.com, BN.com
Maybe it’s time to short some stocks.
