Inland issues ‘reworked’ profit study
The original summary of the findings was the basis for this Newsosaur post, which stated that Inland found newspapers with circulation greater than 80,000 suffered a 100.1% drop in operating earnings since 2004 but that they had average profits of 12% in 2008.
Tim Mather, an analyst for the association, said the report was withdrawn from the organization’s website during the afternoon so editors could “rework what was previously communicated” about its study of publishing profits over the last five years. The new summary was posted here at the end of the business day.
In discussing the revised summary, Mather said the 12% profit figure represents the average profitability of the surveyed publications over the last five years, not just 2008. He declined to provide data on 2008 profitability, saying it was available only to those who purchased the report from Inland.
When Inland first announced the study last week, it contained errors that suggested newspapers with circulation of 25k-50k had suffered a 190% plunge in profitability in the last five years. On Monday, Inland reported that the drop was 90% and today said the number is 89.1%
“The purpose of the trend analysis is to track newspaper profitability over the last five years and it does that,” said Mather. “But it is not a reflection of today’s full reality.”