The Cost of Overpriced Rates for Newspaper Advertising
Chart from Comscore research published in June 2010.
I came across the above in a Clickz article on Mashable that argues the newspapers are killing themselves by charging unreasonably high ad rates. According to the Comscore data, newspapers charge three times the average CPM for online display banners. And print newspapers (at least back in 2008) charge three times the rate of broadcast TV ads running in primetime.
Lulled into complacency by decades (if not centuries) of dominating the advertising industry, they’ve failed to recognize that when it comes to advertiser value, they’ve long since fallen from the top spot. The advantages they once had based on geographic exclusivity, readership, and exclusive content have been eliminated by the rise of the web.
The article’s author, Sean Carton, also suggests that the quality of most newspapers has declined to the point that subscription paywalls feel like an insult. He liked reading the Baltimore Sun’s food blogs (ironically, the content that’s least expensive for the paper to create), especially the reader comments on those blogs (even more ironically, the content that costs the paper nothing), but after visiting for the 15th time this month, he was asked to pay for a subscription, so he went elsewhere.
Flipping through the Hartford Courant this morning at my mother-in-law’s, I was literally unable to find a single article of interest or general news-worthiness (except for a recap of UConn basketball game, which I can acknowledge is more interesting to most people than it is it me), so I ended up reading the back of the cereal box. As much as I love — in theory — local newspapers, it’s shocking that anyone is still paying for their print editions, let alone for the right to visit their websites.