Lots of folks in the business are talking about this story in the Wall Street Journal today (sub. req.), “Political season can’t save local TV sales,” which details declining revenue at local TV stations. “Nonpolitical advertising at local stations is down in the mid-to-high single digits, by some estimates,” writes Sam Schechner in the Journal. Total ad revenue, according to TVB, is on pace for a 3-5 percent decline in the second quarter. “We don’t think local markets will be able to support four or five local broadcast-TV stations, and we think some of the weaker ones may fail” in a few years, says researcher Gordon Borrell, who says the downturn could accelerate station’s efforts to find new online revenue streams.
I’m afraid the reports of layoffs will only accelerate in the months to come…
