Associated Press profit and revenue slide in 2009 (Dinosaur Media DeathWatch™)

Google News ^ | April 29, 2010 | Michael Liedtke

[abb]

The Associated Press said Thursday its net income plunged as revenue fell nearly 10 percent last year. The news cooperative also expects a decline in revenue this year, which would be its first back-to-back drop since the Great Depression.

The AP released its 2009 financial results at the not-for-profit organization's annual meeting in New York. AP executives used the forum to explain some of the ways they hope to boost revenue for the organization and its members, such as with news applications for the iPad.

Net income decreased 65 percent to $8.8 million in 2009 from $25.1 million a year earlier. The AP would have posted a loss had it not booked a $13.2 million gain from the sale of its German-language news service. Revenue totaled $676.1 million, a drop from $747.7 million in 2008.

It was the first annual decline in revenue since a 6 percent drop in 1993. If revenue falls this year as anticipated, it would be the first time that has happened in consecutive years since 1932 and 1933, according to the 164-year-old organization's corporate archives.

Back then, the AP got most of its money from the U.S. newspapers that own it. The AP is far more diversified today, with a steadily growing amount of money coming from online and broadcast customers, photo archives and other commercial endeavors such as a sports statistics joint venture. U.S. newspapers account for about one-fourth of AP's revenue today.

The cooperative has been cutting the fees of both U.S. newspapers and broadcasters, which together account for 40 percent of revenue, to help them deal with their own financial woes.

Other media companies had an even tougher year than the AP.

For instance, revenue at Gannett Co. plummeted 17 percent last year after falling the previous two years as well. snip

[abb]

Thursday evening good news!

[abb]

ping

[Tzimisce]

Well they need a BIG GOVERNMENT bailout.

The AP is just too important to let fail.

/sarc

[GeronL]

bump

[abb]

http://www.milkeninstitute.org/events/gcprogram.taf?function=detail&EvID=2219&eventid=GC10
The Future of Journalism: Who’s Going to Report the News?

http://www.philly.com/philly/blogs/inq-phillydeals/Inquirer_sale_a_huge_vote_of_confidence.html
Inquirer sale a vote of confidence

http://journalism.about.com/b/2010/04/29/newspaper-analyst-morton-says-philly-papers-face-tough-road-ahead.htm
Newspaper Analyst Morton Says Philly Papers Face Tough Road Ahead

http://www.ajr.org/Article.asp?id=4872
An Unlikely Newspaper Hero

[Drango]

sweeeeeeeet but we can do better...let's aim for a 50% slide in 2010. The 4th estate is a 5th column.

[Frantzie]

The AP is the Worst scum.

[abb]

http://www.niemanlab.org/2010/04/when-public-records-are-less-than-public-how-governments-try-to-use-copyright-to-limit-access-to-data/
When public records are less than public: How governments try to use copyright to limit access to data

http://newsosaur.blogspot.com/
Next for Philly papers? Look at Minneapolis

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=127158
Nielsen Turns The ‘Channel’ Off, Permanently

http://www.mediabistro.com/tvnewser/fox_biz/charlie_gasparino_reports_on_jeff_zucker_nbcu_financials_160062.asp
Charlie Gasparino Reports on Jeff Zucker, NBCU Financials

[SanFranDan]

Big sigh!! Thank you ABB

[relictele]

I don’t know how I’ll cope when a day without AP propaganda finally arrives but I’ll try.

[abb]

http://newsblogs.chicagotribune.com/towerticker/2010/04/tribune-co-seeks-fcc-action-wgn-ktla-wpix-new-york-hartford-south-florida-sunsentinel-times-courant.html
Tribune Co. seeks FCC action

http://phoenix.bizjournals.com/phoenix/stories/2010/04/26/daily50.html
Gannett moving KPNX to Republic building

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004087771
AP Profit, Revenue Fell in ‘09

http://www.salon.com/news/opinion/glenn_greenwald/2010/04/28/journalism/index.html
White House reporters afraid to criticize the White House

http://adage.com/digitalnext/post?article_id=143604
Question for Nielsen: What the Heck’s a Television Set?

[MrEdd]

We need a list of assets they own, so Freepers can promote their competitors.

[Ben Chad]

Try telling the truth - earnings will follow.

[Timocrat]

Other media companies had an even tougher year than the AP. For instance, revenue at Gannett Co. plummeted 17 percent last year after falling the previous two years as well.

Oh dear. I'm going to need a Government grant to pay for all the Kleenex I'm using reading this.

[Zakeet]

All the bad news you've been reporting chaps my a$$ ... literally

From Toilet Paper Shortage: Good Raw Material Being Wiped Out:

A shortage of high-quality paper for recycling could mean scratchy toilet tissue. To keep consumers happy and avoid any chafed rear ends, companies are now on a quest to find new paper supplies, according to an article in the current issue of Chemical & Engineering News (C&EN).

The problem: Consumers once could fill up large bins with their recycled newspapers, magazines and print paper. But as electronic communication surges, these sources of recycled paper are becoming scarce.

And you once said the newspapers were only only good these days for fish wrap and bird cage lining.

[SunkenCiv]

“The news cooperative”? So, there are two entities called “Associated Press”? Thanks abb.

[catnipman]

Hopefully that will translate into 10% less lies in the coming year, since they have 10% less revenue. Naturally, I assume that 100% of AP reports are lies, so a 10% decrease in total output should result in a straight 10% decrease in lies as well.

[SaraJohnson]

This is wonderful news! Thanks for finding this.

[SkyPilot]

[conservatism_IS_compassion]

Try telling the truth - earnings will follow.

 Half the truth is often a great lie. - Benjamin Franklin

There is really no substitute for judgement. He who does not exercise his own judgement gets led around by the nose by propagandists.

The wisest and most cautious of us all frequently gives credit to stories which he himself is afterwards both ashamed and astonished that he could possibly think of believing . . .

It is acquired wisdom and experience only that teach incredulity,
and they very seldom teach it enough.   - Adam Smith