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Thank you for visiting Market Revolution's blog.

We live and work in exciting times - revolutionary times. Technology continues to recast the media industry.

The extraordinary advance of affordable personal digital technology and the stellar rise of social networks are both distrupting and transforming the media market making this a unique moment to be involved in the convergence sectors we focus on.

This is also our place to ruminate and comment on the world as we see it, we hope you enjoy and please join in.

Tuesday, 18 November 2008

Great Disappearing ad revenue and headcount reduction....... Part 3

The long running Slimfast diet at the Independent titles in London looks to be continuing, with reports today that another 90 jobs are being cut from the already pared to the bone business.

With reports of the monthly losses varying from £1million to £2million, it's a newspaper with serious financial problems, which can only be increasing in severity with ad revenues down by 20-30% at its larger circulating competitive newspaper rivals.

The only positive to take from this is that with commercial office space costs dropping equally quickly, the inevitable downsizing from the waterside Canary Wharf HQ into a smaller and cosier office floor elsewhere, will be a positive contribution to the cost-cutting exercise.

"The Independent - it is, are you" - was an iconic brand campaign which made individual readers feel that they were being spoken to on a one-to-one basis. At the current rate of progress, it's getting close to being that in reality. Will the last person to leave please turn out the lights?

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