By: Lucia Moses
Finally! Some news about help-wanted advertising that newspaper executives will want to read: The industry gained recruitment-advertising share against online competitors in the fourth quarter, providing a foundation for a newspaper rebound in the category this year, concludes a Goldman Sachs research report released Friday.
Online players’ share of the category declined to an estimated 12.8% in the fourth quarter last year from their peak of 14.4% in the third quarter of the year before. Goldman predicted their share will be less than 13% this year, down from 13.4% last year.
Online’s heavy exposure to tech-related jobs and the consolidation of online job players have left them vulnerable to revenue shortfalls. Meanwhile, newspapers have ramped up the creation of new online recruitment products and still dominate their local hiring markets, according to the research report.