With the news this morning that once again advertising revenue across the newspaper industry has fallen, a trend that one online marketing agency believes will be ‘difficult’ to reverse.
According to Martin McNulty, client services director at Trafficbroker, the diminishing advertising spend in national and regional newspapers is down to both the economic climate and a change in consumer behavior as well as the domination by Google.
"Companies like Trinity Mirror and Johnston Press were once masters of the media landscape, but they are now being decimated, not just by the grim economic climate but the irreversible domination of the ad space by Google,” said McNulty in response to the news that Trinity Mirror saw a 30 percent fall in revenue in the first 17 weeks of the year, while Johnston Press recorded a 34 percent fall.
"These traditional publishers are fast becoming mediasaurs, as they become less and less relevant to businesses keen to promote their products on a measurable, performance basis, and consumers keen to consume their content online.
"It's difficult to see what the local and national press can do to reverse this trend. Consumers are much savvier these days. They know what they want and they see internet and search as the best way to find the right deal. Display and classified press ads, inserts and coupons just don't cut it any more."
Last week, the Scottish Affairs Committee at the House of Commons grilled five key figures in the Scottish newspaper industry, as part of an investigation into a ‘crisis’ within the nation's press.