Shots from the financial crisis

dsc_0491editedI just saw on Silicon Alley Insider that the Boston Globe is laying off 42 people. A friend of mine from my (few) days at Ottaway Newspapers works for Boston.com, the newspaper’s website, at last I heard. I hope he still has a job. When I dug into the article on SAI, I was shocked at the numbers I saw. I had no idea that the Globe’s circulation had fallen into the shitter. I know that Boston is a fairly small market, but the Globe is its major paper (or was).

Well, Silicon Alley Insider does a sufficient job reporting this …

The only paper in circulation

The only paper in circulation

How bad are things at the Globe? Six months ago circulation was 350,605. But by September, the paper only sold 323,983 copies a day — a 7.6% drop in readership in only six months. That’s worse than the newspaper industry as a whole, which dropped an average 4.6% in the same period. And then there’s the advertising recession.

When I lived in Boston, back in 2004, the Globe had a circulation of above 400,000. I was surprised to see that it had dipped to 350,000, let alone below 325,000. So, I guess it’s no surprise that the circulation of pink slips is up.

Read the article in Silicon Alley Insider >>

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