Internet Week > Craigslist Costs Newspapers Millions In Classified Ads Revenue
Alternate Headline : CraigsList Saves People Lots of Money!
Internet Week > Craigslist Costs Newspapers Millions In Classified Ads Revenue > Craigslist Costs Newspapers Millions In Classified Ads Revenue > December 27, 2004
"Craigslist Costs Newspapers Millions In Classified Ads Revenue"
Popular community web site Craigslist, which launched in the mid-1990s, has cost newspapers in the San Francisco Bay area from $50 million to $65 million in employment advertising revenue, a consulting group said Monday.
The non-profit site has also cost newspapers millions of dollars more in merchandise, real estate and other traditional classified advertising businesses, Classified Intelligence LLC said in a recent report on the self-service site's impact. Craigslist, which is a quarter owned by EBay Inc., has grown to a billion page-views a month.
"Craigslist has created an extremely important and valuable marketplace, and perfectly illustrates the changing nature of the classified advertising industry," Peter M. Zollman, founding principal of Classified Intelligence, said in a statement.
Earlier this year, market-tracking company Corzen Inc. reported that leading online job boards nearly tripled the revenue growth of traditional newspaper classified ads in the third quarter.
Revenue growth at national online boards Careerbuilder, Monster and HotJobs was 47.4 percent in the quarter, compared with the same period last year, versus 15.9 percent for newspapers's recruitment category in classified ads, the New York company said.
In terms of revenues, however, online boards were way behind newspapers, $217 million versus $1.1 billion.
Online job boards, however, have posted higher revenue growth than newspapers for the last three consecutive quarters, and Corzen predicts they will eventually overtake classified ads in volume and revenue.
Classified advertising represents a $28 billion to $30 billion business in the United States, including $16 billion in daily newspapers, and an estimated $100 billion business internationally, Classified Intelligence said.
Internet Week > Craigslist Costs Newspapers Millions In Classified Ads Revenue > Craigslist Costs Newspapers Millions In Classified Ads Revenue > December 27, 2004
"Craigslist Costs Newspapers Millions In Classified Ads Revenue"
Popular community web site Craigslist, which launched in the mid-1990s, has cost newspapers in the San Francisco Bay area from $50 million to $65 million in employment advertising revenue, a consulting group said Monday.
The non-profit site has also cost newspapers millions of dollars more in merchandise, real estate and other traditional classified advertising businesses, Classified Intelligence LLC said in a recent report on the self-service site's impact. Craigslist, which is a quarter owned by EBay Inc., has grown to a billion page-views a month.
"Craigslist has created an extremely important and valuable marketplace, and perfectly illustrates the changing nature of the classified advertising industry," Peter M. Zollman, founding principal of Classified Intelligence, said in a statement.
Earlier this year, market-tracking company Corzen Inc. reported that leading online job boards nearly tripled the revenue growth of traditional newspaper classified ads in the third quarter.
Revenue growth at national online boards Careerbuilder, Monster and HotJobs was 47.4 percent in the quarter, compared with the same period last year, versus 15.9 percent for newspapers's recruitment category in classified ads, the New York company said.
In terms of revenues, however, online boards were way behind newspapers, $217 million versus $1.1 billion.
Online job boards, however, have posted higher revenue growth than newspapers for the last three consecutive quarters, and Corzen predicts they will eventually overtake classified ads in volume and revenue.
Classified advertising represents a $28 billion to $30 billion business in the United States, including $16 billion in daily newspapers, and an estimated $100 billion business internationally, Classified Intelligence said.
This entry was posted
on Tuesday, December 28, 2004 at 9:24 AM.
You can skip to the end and leave a response.
» Post a Comment