State of the News Media 2009

State of the News Media 2009

According to the latest installment of The State of the News Media from the Pew Project for Excellence in Journalism, the impact of the recession on advertising revenues coupled with the continuing migration of news audiences to the Web have led to an almost total breakdown of the traditional journalism business model. While traffic to the fifty news Web sites examined in the report jumped 24 percent in 2008 — triple the rate of growth seen in 2007 — online ad revenues flattened and print newspaper ad revenues declined (by 23 percent over the past two years). The report found that even though some newspapers have closed or are in or on the verge of bankruptcy, the industry as a whole still took in roughly $38 billion last year and was profitable. At the same time, the industry lost an estimated 10 percent of its newsroom jobs in 2008, and the report projects that a quarter of the newsroom jobs that existed in 2001 will be gone by the end of the year.