Size of Media Workforce Sinks To 15-Year Low
February 22, 2008 at 5:47 AM (PT)
Get out of media. Get into marketing, writes WORKFORCE.COM.
U.S. media employment in DECEMBER fell to a 15-year low (886,900), slammed by the slumping newspaper industry. But employment in advertising/marketing services, agencies and other firms that provide marketing and communications services to marketers, broke a record in NOVEMBER (769,000). Marketing consulting powered that growth.
Here’s the reason behind the disparity: Marketers still invest in marketing, but they have options far beyond paid media -- digital initiatives, direct marketing, promotions and events, just to name a few. That creates more opportunities for consultants to help define strategies.
It’s a different picture in media. Since media employment peaked in dot-com-infused 2000, media companies have eliminated one in six jobs (167,600). Newspapers, TV and radio all cut staffing last year. The only media sectors to add jobs: magazines (up a meager 400 jobs) and Internet media companies (up 9,200).
Internet media companies, a sector that includes search engines and Web portals, is a bright spot, with a 13.4% jump in jobs last year. Still, Internet media employment remains 31% below its peak during the dot-com bubble.
While radio has lost jobs, the big problem is newspapers, which account for half (82,800) of media jobs lost since 2000. One in four newspaper jobs have disappeared since newspaper employment peaked in 1990. Newspapers, saddled with heavy costs of printing and distribution, last year accounted for 38% of U.S. media jobs, down from 50% in 1990.