Call it an SOS for the media industry. Gawker Media owner Nick Denton writes in his personal blog that if you think things are bad for the media business now, think again. Media groups should plan for the worst, perhaps a 40% decline in advertising spending in 2009. (J.P. Morgan, cited in the story, has slashed projected growth next year of U.S. online display advertising from 16% to 6%.) Yup, 2009 is shaping up to be a deep freeze for media markets. Denton posits six ways for media companies to deal with the fallout, boost revenue and decrease costs.
