Print media icon Los Angeles Times real estate section succumbs to web competition…
For those of you who still think that the print media are king in real estate consider this: the Los Angeles time just published its last real estate section!
The internet, through bloggers, websites and online news sources have simply taken over with their more extensive, and up to date information. As budgets at real estate brokerages have tightened, they have become much more focused on spending money that obtains results. For the print media like the LA Times, that has meant a huge reduction in real estate advertising.
According to this post at The Real Estate Bloggers:
The real reason for the real estate sections demise is not on the editorial side, it is because the advertising supporting it has dried up. When things were going gangbusters, throwing advertising dollars at the local rag was just a continuation on how things were done.
With the tightening market, real estate brokers and developers now are much more circumspect in their advertising spending and needing to create results, not just appease the sellers.
And when the dollars stop flowing in, there is no rational reason to spend the money on newsprint and editorial. The end of the LA Times section is a harbinger of things to come for other papers around the country. - The Real Estate Bloggers
Discussion Area - Leave a Comment
You must be logged in to post a comment.