Craigslist Has Cost US Newspapers $5 Billion

Lost advertising revenue since 2000

The online classified service Craigslist has cost US newspapers at least $5 billion in revenue since 2000, researchers say.

The study, to be published in the journal Management Science covering the period 2000 to 2007, found Craigslist has had a huge impact on local US newspapers, which have in the past relied heavily on classifieds.

The $5 billion over the 2000 to 2007 period is a conservative figure, "and if we extended the study to 2012 it would probably be a lot higher," said Robert Seamans of New York University's Stern School of Business, and a co-author of the study.

Comments

[The Rt. Hon. Serious Man, Visc]

How much has the light bulb industry cost the candlemakers guild?

[Ron]

As much as the auto industry cost the horse whip makers.

[Jesus H. Christ]

Yeah, the wording really bothers me. Craigslist didn't "cost" the papers because the papers weren't entitled to the funds. Geez.

[Corning]

Isn't the US beef industry like $100+ billion a year?

I am pretty sure there are shifts in that industry since 2000 far larger then a puny $5 billion.

Yet we hear near nothing about it and the little we do hear is no where close to as specific as the the above.

This is nothing more then a journalism fapping piece.