That's right, many newspapers have been filing for bankruptcy or cutting down to 3 papers a week! Today, the Chicago Sun Times filed for bankruptcy, making it the second paper in the windy city to file. In other newspaper failure news today, the Tampa Tribune announced 53 layoffs, While yesterday the Winston Salem Journal laid off 13, the Charlottesville Daily Progress laid off 6, and the Boston Globe let go of 50. Its not just in the U.S. either, a U.K. article posted today reported recent layoffs in the hundreds from local print media companies, reported by the Guardian Blog (formerly Guardian Newspaper, originally Manchester Guardian started in 1821).Newspapers have been a traditional medium to advertise in for the past 500 years, since the early 1400s beginning with pamphlets. The mass audience and frequency of the newspaper are staples and the basis for publications today but with technology on the rise and numerous outlets for news, print media is dwindling by a thread!
What happened to all those Sundays I remember growing-up cutting coupons out of the paper with my mom? I am still die-hard coupon cutter but usually out of direct mail or off my printer from brand-specific promotions in my Inbox. With user-generated news on the rise and personal news reporters in our pockets, ie. the Internet on our cell phones (or Blackberries and iPhones), where does the print newspaper or print advertising fit into the equation?
Although sources such as the Project for Excellence in Journalism make it seem as though newspapers are all going bankrupt, cutting papers down to Thursday-Sunday delivery such as the Detroit News and Detroit Free Press are reducing delivery and focusing on the online market may give hope and possibilities to this medium.
Like directories, newspaper advertising reaches a mass market but the audience seeks out the advertisements by searching through sections. Although print media is on the decline, advertising in print has not gone down in pricing. A local newspaper will cost you anywhere from 1k-10k to run a full-page print campaign and national newspapers average 100k-300k. Magazines are usually as least double the cost of newspaper advertising but the higher image quality and location of the advertisement will hold your audiences attention much longer while reaching closer niches. A hefty marketing budget is needed to go the print route but the audience reach is quite large. Local short campaigns, with bargains and large catchy wording works best when using this AdMode.
As a past sports journalist and occasional coffee with a paper enthusiast, I would like to see a least one newspaper survive. With the baby-boomers soon retiring, could we possibly see a small spike in print media? Most likely not, but in my opinion the newspaper is still an AdMode worth looking at. Print advertising is an option to keep in mind as long as the paper is still alive, because as we saw today they have no problem calling bankruptcy when death is looming nearby.
Tips on buying print advertising:
http://www.gaebler.com/Newspaper-Advertising-Costs.htm
http://www.businesstown.com/marketing/strategy-medium.asp
As a past sports journalist and occasional coffee with a paper enthusiast, I would like to see a least one newspaper survive. With the baby-boomers soon retiring, could we possibly see a small spike in print media? Most likely not, but in my opinion the newspaper is still an AdMode worth looking at. Print advertising is an option to keep in mind as long as the paper is still alive, because as we saw today they have no problem calling bankruptcy when death is looming nearby.
Tips on buying print advertising:
http://www.gaebler.com/Newspaper-Advertising-Costs.htm
http://www.businesstown.com/marketing/strategy-medium.asp
Similar Mediums: Direct Mail, Magazines, Outdoor Marketing, Blogs.
Tags: Print Advertising, Magazine Advertising, Newspaper Bankruptcy.
"The advertisements are the most truthful part of a newspaper."
- Thomas Jefferson 1743-1826, 3rd US President
Tags: Print Advertising, Magazine Advertising, Newspaper Bankruptcy.
"The advertisements are the most truthful part of a newspaper."
- Thomas Jefferson 1743-1826, 3rd US President
