UK newspaper company Trinity Mirror claimed that 10 percent of its revenue would be digital by 2011, up from 4.4 percent this year. The rise would mean £100 million in revenue compared to just under £23 million today.
The figures were revealed as Trinity Mirror announced its annual results. Revenue had shrunk 15 percent in July alone underlining, according to the Guardian
the scale of the deepening crisis in newspaper advertising
However Sly Bailey, chief executive, made a robust defense of traditional media, again in the Guardian, arguing that the decline in revenues was cyclical, that is because of a general economic downturn, rather than structural, squeezed out by digital
We’ve never subscribed to ‘is it structural or is it cyclical?’ We believe obviously that media is fragmenting but if you can build your portfolio by launch and acquisition and the right combination of products to meet the needs of readers and advertisers there’s no reason you can’t grow very healthily in the future. What we are seeing now is substantially down to cyclical factors.