Peter Kafka

Recent Posts by Peter Kafka

More Optimism for Big Media and Big Ad Budgets

Things looked positively awful a year ago in medialand. So when prognosticators say things are improving, it’s important to remember that it’s all relative.

Still, if you’re among those who, say, make their living working for an ad-supported media outlet, it sure is nice to see this sort of thing: Barclays analyst Anthony DiClemente jacking up his 2010 U.S. ad market estimates from no growth to a 3.5 percent bump.

That’s a reflection of an “incrementally buoyant picture,” DiClemente says in perfect Wall Street deadpan. Why the muted optimism? “We believe corporate America must and will return to market its products and services.”

Interestingly, DiClemente sees the largest increase coming not from Web advertising, but traditional TV ads, pushed up in part because of the Winter Olympics and next fall’s election season. Last week’s Supreme Court decision didn’t hurt either.

That helps explain why DiClemente has also raised his price targets for Viacom (VIA) and News Corp. (NWS) (which owns this Web site). Click on the table below to see a full breakdown of his predictions:


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald