Replication data for: Newspapers in Times of Low Advertising Revenues

We model the consequences on newspapers' content and prices of a reduction in advertising revenues. Newspapers choose the size of their newsroom, and readers are heterogeneous in their ideal amount of journalistic-intensive content. We show that a reduction in advertising revenues lowers newspapers' incentives to produce journalistic-intensive content. We also build a unique dataset on French newspapers between 1960 and 1974 and perform a difference-in-differences analysis exploiting the introduction of advertising on television, which affected national newspapers more severely than local ones. We find robust evidence of a decrease in the amount of journalistic-intensive content produced and the subscription price.

本研究旨在构建一个模型，以探究广告收入减少对报纸内容与定价所产生的影响。报纸在决定其新闻编辑室规模时，读者在理想新闻密集型内容量上存在异质性。研究结果表明，广告收入的减少降低了报纸生产新闻密集型内容的激励。此外，我们还构建了一个独特的法国报纸数据集，涵盖1960年至1974年间的数据，并利用电视广告的引入这一事件进行双重差分分析，该事件对全国性报纸的影响大于地方性报纸。我们发现，新闻密集型内容的生产量以及订阅价格均出现了显著的下降。（We model the consequences on newspapers' content and prices of a reduction in advertising revenues. Newspapers choose the size of their newsroom, and readers are heterogeneous in their ideal amount of journalistic-intensive content. We show that a reduction in advertising revenues lowers newspapers' incentives to produce journalistic-intensive content. We also build a unique dataset on French newspapers between 1960 and 1974 and perform a difference-in-differences analysis exploiting the introduction of advertising on television, which affected national newspapers more severely than local ones. We find robust evidence of a decrease in the amount of journalistic-intensive content produced and the subscription price.）