We like our internet, and we like it FREE. Newspaper websites have trouble even getting people to register, never mind pay, for content. Even the mighty New York Times has recently abandoned their attempt to get people to pay for their columnists. But somebody's got to pay for the internet. Unfortunately for many internet sites, that "somebody" has been advertising by so-called "subprime" mortgage lenders. And that party's over.
Many online companies rely for a disproportionate amount of their
income on financial services advertising, with subprime in some cases
accounting for a large part of it, the FT said.
Sixteen percent of all online advertising comes from financial
services companies, making it the second biggest source of advertising
behind the retailing sector, the report said, citing Sandeep Aggarwal,
an internet analyst at Oppenheimer.
So, my fellow internauts, I ask you:which 16% of the internet can you do without? Because the dancing silhouette dork in the mortgage ad isn't going to cover our tab any more.