Online media surpasses TV and magazines in jobs growth
by Jeni Bone on 2 Oct 2012
According to the latest data from AdAge.com, when it comes to jobs, online publications and media businesses are the new and burgeoning mainstream media.
Journalists and publishers are evolving with reader demand and moving online. .. ©
Internet media has become the media industry’s second-largest employment sector, according to Ad Age DataCenter’s analysis of Bureau of Labor Statistics data.
In the US, one in six people employed in media industry now work for internet-media businesses.
In July, employment at US internet-media businesses passed staffing in broadcast TV, having already eclipsed magazines, radio and cable TV.
The only US media sector with more employees: newspapers, but as international papers continue to cut staff – in the US in the past 12 months an average of 1,400 jobs a month – online media companies have added an average 400 jobs a month!
In Australia, the most recent study was released in August 2011, carried out by Deloitte Access Economics and commissioned by search engine giant Google Australia. Their research showed the internet economy was worth about $50 billion in 2010, 3.6 per cent of gross domestic product, and was forecast to rise to $70 billion over the next five years.
Deloitte's report calculates that the internet economy's $50 billion size was half of the powerhouse mining sector's contribution to GDP last year, and just $3 billion less than the retail sector's share.
By Deloitte's count at that time, the internet economy directly employed about 190,000 people in Australia, including 50,000 in e-commerce, 75,000 in 'advertising and enterprise sites' and 40,000 in IT software and consulting. It says overall online activity has doubled in the past four years
According to ASIC figures, in the 2010/2011 financial year, the total online advertising expenditure in Australia was approximately $2.456 billion. Expenditure for the 2011/2012 financial year is predicted to be $3 billion.
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