I read a Bloomberg article that said the New York Times is facing a large drop in revenue and is trying to cut back on its expenses to stay in business. The article is entitled, “New York Times Sees Further Ad Drop After Loss Widens.”
The New York Times is learning the hard way that ecommerce and online media are changing the way people gather information and the way marketers advertise their products to customers. They’re trying to stay afloat by cutting jobs, reducing their staff’s salaries and selling property and other assets to try to make up for lost advertising revenue.
All of this is prolonging the inevitable. Old media will have to adapt to changing conditions or go the way of the railroad.
For better or worse, Facebook, Twitter and other social-media sites are revolutionizing communication and information distribution. Marketers are shifting their advertising dollars online because it is much more cost-efficient to do so. Print faces serious challenges because of this.
One quote in the Bloomberg article stuck out to me above all the others. Thyra Zerhusen, managing director of Optimum Investment Advisors, said the New York Times has “to do a better job monetizing their online revenues.”
This seems to be a common theme for companies looking to make a profit online. Online marketers save money by hosting a website instead of renting space at a mall, but they need to understand doing business online is a big change from the old way of doing business and it requires different approaches to earning a profit.
I recommend going to Magellan Commerce’s redesigned website to find resources that can help you succeed online. These include search engine optimization, website design, and more.
You can also go to other eHarbor, Inc. affiliates: Submit Solution and Real Estate Promoter.
The photo of the tiger staying afloat is from Flickr, and it is the copyright of fPat.
Tags: advice, affiliate, article, Bloomberg, company, consumer, Ecommerce, eHarbor, facebook, flickr, future, internet, magellan commerce, marketing, Media, new york times, news, online, Real Estate Promoter, search engine optimization, SEO, Social Media, Submit Solution, twitter, web, website
New York Times struggles to stay afloat…
The New York Times is learning the hard way that ecommerce and online media are changing the way people gather information. They’re trying to stay afloat by cutting jobs, reducing their staff’s salaries and selling assets to try to make up for lost adv…
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