Lack of consumer spending as Covid-19 lockdowns grow means industry is looking at widespread cutsTop 10 news websites surge by 54% but drop in advertising puts pressure on media industryThe Covid-19 pandemic has seen an unprecedented surge in audiences for news websites and TV news, with the top 10 news websites up by 54% on the previous four weeks. But the disappearance of advertising revenue as consumer spending sharply contracts has seen widespread cuts across a media industry already under stress. US news publishers are reporting similar spikes in traffic as the public spends hours following developments in the fast-moving story. Regional publishers are asking the federal government to release funds from the $40m small and regional publishers innovation package. ACM has 160 regional newspapers, including the Canberra Times and the Newcastle Herald, and was previously owned by Fairfax Media.

Source: The Guardian March 31, 2020 06:33 UTC