Associated Press Paper Revenues Plummit. What Have We Learned?
As the trend of “Digital Content” is rising up, newspaper publishers are facing tough times. In a recent industry conference, Tom Curley, the CEO of Associate Press reported that AP is losing money and earning much less revenues as compared to a few years ago.
He informed that the revenues from the AP newspaper members have dropped by almost one third times since 2008. Just two years back, the revenue generated was $220 million, which has now fallen down to around $140 million. Such a great loss. The worst part is that it expects to see a drop of $5-$7 million in the coming year as well.
According to an AP representative, “The company is relying on commercial photos, software businesses and AP’s international broadcast news feeds. The latter part is getting some more attention, as the TV feeds will soon get a $30 million digital upgrade to its system.”
It’s the plight of print media, which has taken a liking to newer digital publishing options because ad revenue is looking more promising than it was before. Most of the industry saw a downturn this quarter and the resigning of Tribune’s CEO earlier this week is an example of this. Conde Nast, which has been rather aggressive in its digital strategy, has shared recent lessons from the process.
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