Salt Lake City, UT (PRWEB) March 30, 2007
It was a bull-market year, but newspaper earnings fell in 2006, according to a recent report from journalism.org.
Declines in circulation and classified ads revenue contributed to those losses, which were down about 8 percent from 2005, also a lackluster year. The trends confirm what many papers have already figured out -- yesterday's business model just doesn't cut it anymore.
"Newspapers could gain momentum if they demonstrate success, rather than just good intentions, in inventing new lines of Internet revenue," according to authors of the State of the Media 2007 report, published by The Project For Excellence in Journalism.
One solution has newspapers and classified ad Web sites -- once bitter enemies -- joining forces. Many newspapers across the nation have chosen a company by the name of MyAdSource.com (http://www.myadsource.com/) to help them foray into the competitive, online classifieds world. One of the company's most recent advocates is Josh Lurie, publisher of The Jones County News in Georgia.
"We are looking forward to creating a unique presence for people in our community to come together to buy and sell their goods while also becoming informed about our community," he said.
The concept is simple. Newspapers provide page content, while classified partners like MyAdSource.com deliver online ad technology and social networking features in an effective Internet package. Consumers can place classified ads through the Web site at any time of the day. The ads end up both online and in the printed publication, with special features like picture thumbnails, bolding and even a mini-home page. CEO of MyAdSource, Reed Brown, claims customers spend 20 to 30 percent more on classifieds when they can do it this way, as opposed to the traditional newspaper method.
Industry execs have taken notice of the product's potential. Five state press associations -- Nevada, Utah, Oklahoma, Wyoming and Georgia -- have already inked deals with MyAdSource.com, giving some clout to the young company.
Newspapers around the nation continue to join every week. With a vision to save them from the likes of Craigslist and Co., Brown says he wants to continue creating ways for newspapers to make more money.
"We're passionate about helping newspapers leverage the communities they already have and turning that into solutions for everyone," he said.
MyAdSource™ (http://www.myadsource.com/) has been created to give publishers the ability to provide an online marketplace where consumers can search online ads, as well as, all print classified ads. This solution provides Newspapers, local and nationwide, the ability to regain the classified industry, which they once owned exclusively.
MyAdSource will be at the Suburban Newspapers of America Conference in Florida scheduled Mar. 28-30.