Shift from Print Advertising Drives Magazine Layoffs
November 12, 2008 · Print This Article
If anyone doubted that print and television advertising were on the brink of suffering, those doubts have been shattered with the recent layoff announcements by not one, not two, but multiple magazine industry leaders in various categories. Time, Sports Illustrated, Fortune and Money have not just let executives go recently, but now, each company is seeking voluntary layoff participants to trim expenses. the culprit – reduced advertising revenue.
The writing has been on the wall that print and television advertising need to prepare for a shift in ad spending from traditional media to online social media. It could be argued that a business model overhaul is required to keep many of these publications floating above water in the long term.
What do you think? Will there always be a place for traditional print magazine advertising, or is the clock ticking?
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As employees are handed pink slips, an employer like a bank or a brokerage may be prudent to retain their e-mail records. The records are a valuable asset to the employer. –Ben http://legal-beagle.typepad.com/wrights_legal_beagle/2008/10/retain-e-mail-of-former-employees.html
Print advertising will continue to exist, yet it will have to evolve and become more relevant and informative to the consumer. With so many people going online to get their news, fashion and a lot of other types of information, print readership will decline and so will ads, but its simply a shift of medium, as when T.V. was the new hot thing to advertise on, shifting other mediums to the side.
Lior, thanks for weighing in on the debate!
A few job sites seems appropriate about now –
http://www.linkedin.com (professional networking)
http://www.indeed.com (aggregated listings)
http://www.realmatch.com (matches jobs based on your skills)
Good look to those looking for work!
Well if you listen to Kool-Aid drinking word of mouth marketing people it will evaporate.
It’s not going anywhere, anytime soon.
[...] last week, I wrote a post here on KeySplash Creative Conversations about the shift away from print advertising that is driving many established magazines to resort to layoffs in order to remain profitable. [...]