(Pew Research Center). Newspaper ad revenues have fallen 23% in the last two years. Some papers are in bankruptcy, and others have lost three-quarters of their value. By our calculations, nearly one out of every five journalists working for newspapers in 2001 is now gone, and 2009 may be the worst year yet.
In local television, news staffs, already too small to adequately cover their communities, are being cut at unprecedented rates; revenues fell by 7% in an election year -- something unheard of -- and ratings are now falling or flat across the schedule. In network news, even the rare programs increasing their ratings are seeing revenues fall.
The ethnic press is also troubled and in many ways is the most vulnerable because so many operations are small.
Only cable news really flourished in 2008, thanks to an Ahab-like focus on the 2008 election, although some of the ratings gains were erased after the election. (full text)
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