Ten days ago, my quick first take on media business implications of the COVID-19 contagion was that it would hit hard, as any downturn— this one now looming as a recession—tends to quickly translate into devastating advertising losses. That is starting to happen.
I took particular note of an announcement last Wednesday from The Stranger, a relatively robust alternative weekly in Seattle, that it was furloughing 18 employees—more than half its staff—and suspending its print edition.
In a letter to readers, editor Christopher Frizzelle explained that 90% of the free publication’s advertising base is from events, entertainment and nightlife.
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