Liberals bet the farm on the public schools (academically deteriorating), FCC-licensed network TV (falling ratings), newspapers (falling revenues), Hollywood (still standing), and universities (still standing).
The newspapers are dying. The sign of this is their revenues. They have fallen over a cliff.
Free market economist Mark Perry comments.
The blue line in the chart above displays total annual print newspaper advertising revenue (for the categories national, retail and classified) based on actual annual data from 1950 to 2011, and estimated annual revenue for 2012 using quarterly data through the second quarter of this year, from the Newspaper Association of America (NAA). The advertising revenues have been adjusted for inflation, and appear in the chart as millions of constant 2012 dollars. Estimated print advertising revenues of $19.0 billion in 2012 will be the lowest annual amount spent on print newspaper advertising since the NAA started tracking ad revenue in 1950.
The decline in print newspaper advertising to a 62-year low is amazing by itself, but the sharp decline in recent years is pretty stunning. This year’s ad revenues of $19 billion will be less than half of the $46 billion spent just five years ago in 2007, and a little more than one-third of the $56.5 billion spent in 2004.
Here’s another perspective: It took 50 years to go from about $20 billion in annual newspaper print ad revenue in 1950 (adjusted for inflation) to $63.5 billion in 2000, and then only 12 years to go from $63.5 billion back to less than $20 billion in 2012.
The Left is in big trouble. They built their political base on the assumption that they could keep out rival views by controlling the media outlets. This strategy is failing.
Home schooling is growing. Public school scores are falling. The schools cannot conceal the decline.
The networks are being eaten up by cable TV, video games, online entertainment, DVDs, and Matt Drudge.
The newspapers no longer control local opinion. They w\ill be gone in a decade. Their attempt to generate revenue on the Web have failed.
Without control over opinion, the Left’s core voting base is eroding.