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Re: Craigslist Costs Newspapers $65 Million in Ads Each Year
Posted by: John P. Mello Jr. 2007-02-03 20:46:55
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A popular online community for selling goods and finding jobs and housing is diverting $50 million to $65 million annually in classified advertising from newspapers in the San Francisco Bay area, according to Classified Intelligence, a consulting firm in Altamonte Springs, Florida. The firm released a report this week, a copy of which has been obtained by TechNewsWorld, consisting of articles and essays about Craigslist, an online community that began in the Bay area and has branched out into more than 70
U.S. cities.
I span two eras - that of print and the digital world which includes the likes of craigslist. I recall how damned arrogant newspapers and their classifieds departments were. First, high prices for employment ads that literally cut out the participation of small businesses. I propose that even without craigslist, that list of 12000 "lost recenue" ads would be halved or even lower because while these employers can afford craigslist, they still could not afford the Chronicle or Times. Second, I recall that to place an employment ad, the CC Times required that I place it in ALL of their editions (at a significant increase in cost). This meant that I fielded 10 calls out of my area for every one in it! These appplicants were mad because I advertised in their community for a job outside. We also got more and better results from posters posed around anyway, so good riddance newspapers not only were you hoisted, you deserved it.
