While the news about the economy in general continues to be grim, the news in regard to the media economy is pretty much catastrophic. Earlier today, my friend who works at a regional weekly newspaper told us about a three-person layoff at their small office (including one of her bosses) and her feeling that newspapers were “pretty much toast” right now. Soon after, I found this article on The Wrap, via MediaBistro, with some pretty grim statistics of its own. The headline doom-and-gloom story continues to be the New York Times, becuase of news like this:
- The New York Times Co. said Wednesday that fourth-quarter earnings plunged 48 percent and online sales fell for the first time as the recession depressed spending by advertisers. –The Huffington Post
It’s a pretty scary time to be a writer, that’s for sure. As I’ve written on here before, I just hope that being a freelancer in this kind of economy is a good thing, not a horrific thing. But who knows? Not many thought it would get this bad, this fast, in the first place. Yikes.
Photo: Flickr Creative Commons
