Gawker Media owner Nick Denton says advertising spending will decline 30 to 40 per cent next year — online and off.
“Publishers are sleepwalking into economic extinction,” Denton writes in an essay published today.
Valleywag’s Owen Thomas bulletpoints what Denton says publishers should do after they wake up:
- Renegotiate vendor contracts.
- Get out of categories such as politics to which advertisers are averse.
- Consolidate titles.
- Offshore more.
- Variable compensation.
- More value for marketers.
We share Denton’s view. We also agree with MediaMemo’s Peter Kafka’s, who yesterday wrote: “Here’s the deal: If you work at a media company that hasn’t had layoffs recently, just go ahead and assume they’re coming.”
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