Readers of the Big Picture have seen this argument phrased slightly differently: Its the shift from analog old media to digital new media.
But Chris gets it right, noting the following are "Flat to Way Down:"
- Music: sales last year were down
21% from their peak in 1999
- Television: network
TV’s audience share has fallen by a third since 1985
- Radio: listenership
is at a 27-year low
- Newspapers: circulation peaked in
1987, and the
decline is accelerating
- Magazines: total
circulation peaked in 2000 and is now back to 1994 levels
- Books: sales
growth is lagging the economy as whole
What’s up? Digital:
- Movies: 2004 was another record year, both for theaters and DVDs
- Videogames: even
in the last year of this generation of consoles, sales hit a new record
- Web: online ads will grow 30%
this year, breaking $10 billion (5.4% of all
Of all these industries which have seen their business models dmaaged by newer media, why are only one or two suing their clients?
“He who blames others has a long way to go on his journey. He who blames himself is halfway there. He who blames no one has arrived.” – Chinese proverb In the first installment of “The Apprenticed Investor,” we discussed why investors should expect to be wrong, and most importantly, having appropriate plans for what…Read More
Category: Apprenticed Investor