State of news media in 2011: More mobile, more online use, better financials for all but newspapers
It's an obvious idea with far reaching implications.
More of us are getting news online -- particularly through mobile devices -- than ever before, according to the new State of the News Media report released today by the Project for Excellence in Journalism.
The POJ releases a whopping report every March dissecting data on media from the year before. In 2010, researchers found that online consumption of news rose to to eclipse print for the first time. Now, only TV outpaces it as a news destination. Online ad revenue is also on track to surpass print revenue for the first time.
They also found 47 percent of Americans now receive their news through a mobile device; most of that news involves accessing immediate data such as weather, restaurant locations, traffic patterns, etc.
This year's report lacks the blockbuster impact of past efforts, given that the industry is still climbing out of recession. What's also obvious: The hope last year that the media recession might end in 2010 never panned out, as newspapers in particular continue to struggle with sluggish revenues.
Other interesting factoids:
*Newspapers are expected to have lost 1,000 to 1,500 jobs in 2010; less than the peak of media recession, but still shrinking workforce by 30 percent from 2000 levels.
*Seven of top 25 newspapers are owned by hedge funds.
*The audience for cable TV news is down 13.7 percent and down 16 percent in primetime.
*Online news audience only platform to grown -- up by 17 percent.
*Network news remains a powerful platform, reaching an average 21.6-million people each day.
*Revenues have bounced back for most every news platform bu newspapers, where revenues dipped by 6.4 percent.
*Local TV revenues rose by 17 percent, aided by $2.2-billion in political ads.
*Typical newspaper's profit is at 5 percent -- less than a quarter of 1990 levels.
*Despite declines in audience, revenues for cable TV news channels rose, with Fox News earning $1.5-billion, CNN and CNN Headline News making $1.2-billion and MSNBC taking in $383-million.