Green shoots from Ernst & Young for the media

Journalism.co.uk brought my attention to the latest business survey of the media.

This time it comes from Ernst and Young who conclude that

Migration online by publishers and media organisations before the current economic downturn will help them respond more quickly to the crisis,

However there are many structural changes that may have to happen

1.Cutting costs may not suffice-instead companies will need to rethink their undderlying business models

2.The profit forecasts from many media companies do not fully reflect the challenges ahead for them.

3.Unlike the previous downturns,this one doesn't follow an advertising boom.Thus when GDP starts to grow advertsing will recover a lot quicker.