The Times says its core Web ad business–selling display ads on its pages–fell off in November, has gotten worse this month and could really be in trouble next year. But About.com is holding up comparatively well.
New York Times CEO Janet Robinson and her CFO, James Follo, are speaking at the UBS media conference later this afternoon. But they want to get the news out in advance: They had a miserable November, but they’re confident they can deal with looming debt problems. Also, if anyone would like to invest in the Times, or lend it some money, they’re all ears.
At the UBS media conference, Interpublic’s Bob Coen kicks things off with his predictions for 2009. Like his colleagues, Coen has bad news: “Not going to be a very good year next year.” The numbers: Total U.S. ad spending will be down 4.5 percent; nonsearch Web ads up five percent.
Good morning. Long week ahead, so let’s keep this short and sweet: At least two giant ad agencies are predicting lousy results for the coming year, for all the obvious reasons. Best-case scenario is that they’re overestimating the damage, and next year’s media layoffs won’t be quite as bad as they could be. Worst-case…
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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