Some nuggets about the broader online and print advertising markets from consumer-finance information site Bankrate:
- Core online advertising revenue up 42% year over year (keep in mind that Bankrate is tiny)
- Core display online ad revenue up 51%, in contrast to reports elsewhere (Yahoo, AOL) of weak display.
- Display growth fuelled by higher volume, but also price increases.
- CPC (click) revenue up 31% on higher volume and higher prices. Prices hiked 15% two months ago–no problem.
- Print revenue declined 28% year over year on low advertiser demand.
- “The bottom line is we are seeing what every other print publisher is faced with, declining ad demand.”
These comments confirm what we’re hearing elsewhere (except at newspapers, which continue to be in denial). The current print shrinkage is not just cyclical. It is secular. Advertisers are shifting dollars from print to the Internet at a mind-boggling rate. Newspapers like the New York Times need to make some radical changes in strategy, and quick. Bankrate transcript, SeekingAlpha