CBS News in the US ran a story last night about the impact of the Internet on newspaper classifieds. The full text of the story is here. For an extended video of an interview with Jim Buckmaster, CEO of Craigslist, click here. Here’s what Peter Zollman, a consultant to newspapers on classified advertising, had to say on CBS about the impact on online classifieds for newspapers:
“Publishers are, and should be, scared witless,” Zollman says. “Classifieds globally is a $100 billion a year business. A hundred billon dollars a year, and every nickel of it is in play.”
Disclosure: I own Find It, a start up online classified business inching closer to beta release in partnership with a network of newsagents.