The downhill slide of daily journalism began decades ago, when television introduced nightly news programs on both a national and local level. That decline, however, has been radically accelerated by the advent of online classified advertising. Craigslist has probably been the most important development for local classified advertising. This simple, unadorned website provides free listings for most of its classifieds, selling only placements for job opportunities.
Classifieds have always been the bread and butter for newspapers, providing the lion’s share of black ink. Yet by three years ago, Craigslist had become a principal local resource for job recruiters. Research organization Classified Intelligence reported two years ago that Craigslist costs the San Francisco Bay Area’s traditional newspapers, and their online divisions, between $50 and $65 million annually in revenues from employment ads alone.
According to the study, Craigslist had 12,200 active job listings on its San Francisco site the week of November 21, 2004. In contrast, the San Francisco Chronicle had 1,500; the Oakland Tribune had 734; the San Jose Mercury News had an estimated 1,700;...
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