corrente

Craig's list eats away at newspaper classified revenues:

A popular online community for selling goods and finding jobs and housing is diverting US$50 million to $65 million annually in classified advertising from newspapers in the San Francisco Bay area, according to Classified Intelligence, a consulting firm in Altamonte Springs, Florida.

The firm released a report this week, a copy of which has been obtained by TechNewsWorld, consisting of articles and essays about Craigslist, an online community that began in the Bay area and has branched out into more than 70 U.S. cities as well as several metropolitan areas overseas.

In one of the report's essays, Bob Cauthorn, who used to run interactive media operations at the San Francisco Chronicle, noted that in one week alone in November, Craigslist had 12,200 paid and unique job listings, compared to 4,900 for the online editions of the Chronicle, Oakland Tribune, San Jose Mercury News and Contra Costa Times.
(via TechNewsWorld)

Now, if only CraigsList covered the news... Oh, wait, the newspapers don't cover the news either! So there's a whole new market here!