Guardian

The End is Nigh


Eric Pickles, local government secretary,  announced today that council job adverts are mainly going to be published online rather than in the media. Both Guy Fawkes and Roy Greenslade observe that this could have a negative impact upon the Guardian’s advertising revenues.

Indeed. With the Guardian Media Group reporting that advertising and new media revenues were down by £31.6 million to £156 million  out of total revenue of £280 million for the 2009/10 fiscal year,  a year in which there were £178 million in pre-tax losses, this does not bode well for the future.

If the Guardian’s own sample of advertising case studies is anything to go by, this is the kind of impact that we’re talking about.

Who knows, with any luck, members of the Scott Trust Board may come to their senses and realize that their £445,000 a year editor-in-chief ain’t all he’s cracked up to be.

h/t Pontipine

Categories: Guardian

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8 replies »

  1. Recruiter Zone: isn’t that quaint? Is old-fashioned ’employment’ out of fashion in the Guardian along with old fashioned morality? Perhaps this attempt at concealment of the actual purpose of the page suggests the kind of ‘job’ (forgive me, my language is full of these outdated concepts) where the candidate decorates the position (there, that’s very slightly better, isn’t it?) and nothing definite needs to be done.

  2. Indeed. With the Guardian Media Group reporting that advertising and new media revenues were down by £31.6 million to £156 million out of total revenue of £280 million for the 2009/10 fiscal year, a year in which there were £178 million in pre-tax losses, this does not bode well for the future.

    Goodness.

    So much.

    I hope it’s nothing temporary. (cough).

  3. From your mouth to G-d’s ear!

    The gurgling (of the Groan circling the drain) is getting louder and louder….

  4. The Guardian group is such in an astonishingly poorly managed business. It leaks money, its smaller titles support its ‘flagship’ paper, but yet it has an army of staff ‘running’ the non-profit making venture that that is Cesspit Is Free.

  5. Sadly, if the Guardian were to hit real financial difficulty, I don’t think they’d have any difficulty at all in selling blocks of GMG shares to, erm, Sovereign Wealth Funds from certain oil-producing Middle Eastern countries. It wouldn’t surprise me if some funding for all their recent fancy projects wasn’t already raised that way.

  6. If the Guardian can be kept afloat by Arab oil money, laundered as the sale of Guardian owned ‘property’, it can go on indefinitely.