Borrell Associates has published a new report which predicts that online employment advertising in the US is expected to pass all other media, including newspapers, by year end. Editor and Publisher has more:
Advertisers are forecasted to spend $5.9 million in online help wanted ads compared with $5.4 billion in newspaper ads.
The 2007 outlook on online recruitment advertising report also found that online help wanted advertising is expected to grow to $10 billion by 2011.
The news isn’t totally bleak for newspapers: “If newspaper Web sites were counted as a single entity, they would control the largest single share†of online recruitment revenue at 18.6% or $1.1 billion, according to the report.
Well, the news is bleak for newsagents because they are not part of the online newspaper mix. This is not new information, that online advertising will pass traditional offline advertising, and affect newsagents. The speed of migration is faster than expected. Many in Australia will deny this is happening here – you usually hear this from within newspaper companies where they need newsagents and other offline partners to stay focused on the offline product.
Newsagents ought to go to the Borrell Associates website and access the free executive summary of this report. It’s a sobering pre-Christmas read. Once you;ve read the report, put the gloom aside and start to plan for your newsagency of the future.