Business news sites are seeing record traffic as the markets continue their wild flux, but the downside the ad recession is so bad revenue are still shrinking.
The IHT: The recent surge in interest in financial news was most immediately evident on the Internet. In October, the number of visitors to Web sites affiliated with The Wall Street Journal more than doubled, to 40.5 million, according to Dow Jones, which publishes The Journal. Other financial sites, like Yahoo Finance, have also shown big gains as worried investors click back again and again to monitor the decline in their portfolios.
Too bad that no advertisers can afford to take advantage of this.
Banks have cut back after a small burst of activity in September and October, [Dow Jones Revenue Chief Michael Rooney] said, when many aimed to reassure depositors that their money was safe. Watchmakers and other luxury marketers have not even confirmed their spending levels for the holiday season, something that ordinarily would have happened more than a month ago, Rooney said.
So where’s the revenue to save financial sites going to come from? Readers. The WSJ’s subscription model for wsj.com is doing fine, and the FT has raised prices and moved to acquire more subscription-based news outlets.
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