For the PR world seeking earned media opportunities, the latest struggles means traditional media just got that much harder to work with. More beats will go uncovered, already overworked reporters will have more to do, and news holes—the space saved for editorial content—will become even more anemic.
The Wall Street Journal reported this week that several large newspaper companies reset their advertising revenue expectations downward, following a dismal first half of the year, and an even worse start of the third quarter.
For the last two years, media companies have touted that while circulation figures for actual newspapers have declined, an increasing number of people are reading papers’ online versions. The problem is that the industry hasn’t figured out how to offset the decline in circulation and advertising with online ad dollars.