Robert G. Picard

Effects of Recessions on Advertising Expenditures: An Exploratory Study of Economic Downturns in Nine Developed Nations

This article explores the effects of recessions in developed nations since 1989 to determine how advertising expenditures are related to recessions and whether expenditures for different media are affected differently. The study finds that advertising expenditures (in constant currency) declined an average of 5% when a 1% decline occurred. The relations between the gross domestic product and advertising expenditures were not universal across the nations, however. It appears that nature of the economies, the degree of economic fluctuation, segments of industry affected, national economic policies, and other factors may play roles in the advertising expenditure choices. The study also finds that print media are more affected by recessions than broadcast media. The effect of the economic downturns on newspaper and magazine advertising expenditures were 4 times that of the effect on television advertising expenditures.

SHIFTS IN NEWSPAPER ADVERTISING EXPENDITURES AND THEIR IMPLICATIONS FOR THE FUTURE OF NEWSPAPERS

For much of the 20th century newspaper advertising expenditures experienced strong and regular growth and a close link between that advertising spending and gross domestic product (GDP) was observable. Using a US dataset from 1950 to 2005, this paper explores advertising growth trends, the extent to which the relationship between GDP and newspaper advertising expenditures is being maintained, and changes in expenditures in different categories (retail, classified, and national) to determine whether and how the long-term trends are shifting. The author finds that the relationship between GDP and expenditures is weakening, that growth is not keeping pace with inflation, and that there is greater volatility in advertising than seen in the past. The author concludes that trends indicate the advertising expenditures will plateau and decline in the future, denying newspapers revenue growth that is critically needed for sustainability.

Unique Characteristics and Business Dynamics of Media Products

Abstract This discussion article explores how media products differ among themselves and how those differences affect the economic forces they encounter, business dynamics of their industries, and the strategies employed. It suggests that media can be characterized as single or continuous creation products, as operating in unit cost or fixed cost economies, and as focusing on failure management or success management strategies. It also explores supply side and demand side differences between media and other products and how these affect media industry business dynamics.

Cash Cows or Entrecôte: Publishing Companies and Disruptive Technologies

This article explores the effects of the disruptive technologies and changing markets on publishing companies and asserts the need for firms to establish transformation and transition strategies. It argues that the proliferation of analogue media and the development of digital media have induced significant changes in audience and advertiser behavior that challenge the long-term survival of the newspaper, magazine, and book industries. I assert that the current strategies of publishing companies to gain economies of scale and scope, to move into cross-platform content provision, and to maximize return across a portfolio of content products will be effective only for the short- and midterm. This study explores the point at which new media will seriously harm print media. I argue that consumer behavior currently prevents short-term destruction of publishing companies but that it presents serious long-term challenges to their survival. I also assert that publishing companies need to prepare strategies for co...

Twilight or New Dawn of Journalism

The enormous business challenges confronting newspapers, news agencies, and other news providers have multiplied in the Western world in the twenty-first century. Mature and saturated markets, loss...

Capital and Control: Consequences of Different Forms of Newspaper Ownership

Abstract Debates over the effects and efficacy of different forms of newspaper ownership are rising. This article elucidates the debates by exploring private, public, not-for-profit, and employee ownership using economic and managerial theory about ownership and control of enterprises. It shows the managerial and economic conditions that emerge under the different forms of ownership, their implications, and the advantages and disadvantages of each. The article concludes that there is no perfect form of newspaper ownership.

Economic Growth and Advertising Expenditures in Different Media in Different Countries

Newspaper advertising expenditures depend more strongly on economic development than advertising spent in other media. Gross domestic product (GDP), therefore, predicts ad spending better in countries where newspapers are an important advertising medium. GDP also predicts ad spending better in countries where a larger proportion of GDP is spent on advertising. Intermedia competition, on the other hand, has little impact. In conclusion, the authors propose to distinguish three advertising cultures where ad spending follows economic development in different ways.

Mobile telephony and broadcasting: are they compatible for consumers

This paper explores the potential for audio and video services streamed to mobile handset from the perspective of consumer behaviour. The author argues that consumer choice rather than technology or supply side activities will determine the success of the services and that demand for mobile broadcasting services will come primarily from consumers who are currently using mobile audio and video services with other technologies. The author argues that increased attention needs to be placed on pressing issues as mobile communications capabilities increase and that a wide range of factors will influence consumer demand for mobile services.

Weathering A Recession: Effects of Size and Diversification on Newspaper Companies

This article explores the impact of the recession of 1990-1991 on U.S. newspaper firms and seeks to determine whether the sizes of the firms or the degree of diversification affected their financial performance during the economic downturn. Using data from 15 publicly traded companies before, during, and after the recession, correlation and regression analyses were conducted to study the effects of the size and diversification variables. The authors conclude that larger firms were more affected by the recession than smaller firms and that nonnewspaper diversification reduced the effects of the recession. Larger firms were more rapidly affected by the recession, placed greater controls on expenses during the recession, and emerged from the recession more slowly than smaller newspaper firms.

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Abstract This articles explores how factors present at the startup of online news enterprises influence their development and sustainability. Using entrepreneurship and management literature as a base, it presents and analyzes three case studies in which different arrays of organizational factors were present and how they affected the first three years of the organizations’ activities. It reveals that “formational myopia”—pre-existing expectations and organizational objectives based on the entrepreneurs’ past experiences—played important roles in their development and that the abilities of the firms to adapt their strategies and practices after establishment were crucial to their sustainability.