11 September 2012
|
Knight Center
Just two weeks before The New Orleans Times-Picayune will trim its print
schedule back to three days a week, making the Big Easy the biggest U.S.
city without a daily newspaper, one of the newspaper's executives has
acknowledged that declining advertising revenues was a factor in
shifting their focus online. Ricky Mathews, president of Advance Publications' Nola Media Group, told
the
Wall Street Journal that a 10 percent drop in revenue could force
the Times-Picayune out of a profitable position, unless drastic
cost-cutting was imposed. Advance.net Chairman Steven Newhouse told Andrew Beujon from
Poynter.org
in early August that the Times-Picayune was a profitable newspaper, an
important factor in the company's ability to fund quality journalism
while also improving its
Nola.com website. Advance raised a storm of
criticism in May when it announced it would reduce the Times-Picayune's
print schedule to three days a week — Wednesdays, Fridays and Sundays —
starting Oct. 1. In his Sept. 9 story for the Journal, Keach Hagey wrote that Mathews has
spent his summer dealing with readers' and advertisers' anger, a wrath
that "is largely based on the widespread misconception that the
Times-Picayune is doing fine financially." Print advertising sales at
the Times-Picayune have declined steadily in the past four years, a
trend echoed across the newspaper industry.
Original source