Not sure where Scott Karp got this figure, but it’s important to reiterate why the Web is a shrinking business:
That’s why the newspaper industry is worth about $60 billion offline but only $3 billion online — they only have about 5% of the pricing power that they did when there was only a finite amount of space in for printing ads.
In other words, it’s easy to rag on the offline media companies, namely newspapers, for not moving online, but why should they?
The sooner the do, the sooner they kill their business. Hate to be a newspaper guy, also understand the angst and envy TV execs must be feeling… after all, digital revenues are not so incremental, despite what some will say.
TV is the same way:
- online video ad market? $700M in 2006.
- TV ad market? $75B in 2006.
Yeah, that’s right: Must not watch [online] TV.
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