Don't worry, print journalism! You're not the only thing that's going away!
Citibank entertainment media analyst Jason B. Bazinet and his team wrote in a note to investors today that they are baffled by the audience ratings decline they're seeing in cable TV.
Citi downgraded CBS, Disney, Discovery, News Corp and Scripps from "Buy" to "Neutral" in the note after concluding that the ratings falloff was accompanied by a similar decline in the growth of ad dollars being spent on cable.
Go to Business Insider to see a few charts explaining the decline in fuller detail.
Okay. So print journalism is declining. Network television ratings are declining. As of last year, movie attendance was way down, although it's back up in the first quarter of this year. Music sales flatlined at the beginning of the 21st century and never really came back. According to some sources, nobody's reading books anymore. So where the fuck is everyone? Presumably, they're all on the internet. But why can't media companies make money off the internet? The more I think about this, the more I think Jaron Lanier is right. if you're at all interested in any of this, I heartily recommend You Are Not a Gadget, which is a book that I keep coming back to as these headlines keep popping up in my RSS reader.
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