Craigslist Costs Newspapers Big Bucks
Via Slashdot, here’s a story on a survey completed by Classified Intelligence (for CityXpress). Apparently the free community website Craigslist is costing Old Media lots and lots of money:
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.
One Slashdot commenter applauds the new corporate math, saying “every American who doesn’t give me a dollar right now is costing me the dollar that I’d have if only they’d given it to me.” Another one offers the newspaper industry this apt instruction: adapt or die.
More than anything, this is just a consulting company manufacturing some decent press around their for-sale business report.
December 28th, 2004 at 7:42 am
And with eBay’s recebt acquisition of Rent.Com, and the full integration of Craig’s List into the eBay family in 2005, the classified world has changed substantively in the past 5 years, and will likely change more in the next 12 months.