Research Project

Hi all, for my project I took a look the future of old media. First I presented the total advertising spend for all media (which was close to $280 billion dollars in 2007) and how much of that was spent in each media. We found out that Internet spending was less than 8% of the total. I examined how radio (Q104 and WNYC), TV (NBC) and newspapers (New York Times) are using new media to stay competitive and where they may be headed. They are using new media pretty well but have not figured out how to reap the same profits online that they did in the old media ventures. A famous quote from Jeff Zucker of NBC is that he doesn't want to trade "analog dollars for digital pennies." I looked to Jeff Jarvis of CUNY Journalism school for insight into what the newspaper industry could do to stay in business. He believes that their business model needs to change and that the network would be the new model. What he does still believe though is that revenue will still be advertising based. I also mentioned that the economic crisis is severely affecting advertising income for all old media. I concluded with while the immediate future does not look good, I believe that old media will still be relevant in the future.