Blog P.I.

My NMS colleague Simon Owens’ latest PBS MediaShift column takes on the state of online political advertising in the “double whammy” for bloggers and ad brokers in an off-year for politics that happens to be occurring in the middle of a recession. Here he talks to Henry Copeland, founder of Blogads and a friend of Blog P.I.:

“Everyone looks at the numbers and says, ‘Wow, advertising is growing 20 percent a year online,’ and they get really excited about that,” he said. “But most of that growth is cost-per-click — it’s Google, it’s AdWords, it’s AdSense. So display advertising stopped growing a year ago, and the problem is the number of impressions online doubles roughly every year, and so you have this gigantic overhang of supply, and demand has not only stopped growing anyway but is also definitely down in a commercial sense. Put it all together and it’s kind of a perfect storm.”

I asked him whether the Democratic administration and the billions of dollars in increased government spending were providing any new markets for ad buys. He wouldn’t discuss the specifics but confirmed that they were seeing some strong pockets of interests in affected industries and interest groups.

The closing of Pajamas Media, Copeland said, was definitely good for Blogads. When the conservative network launched, it managed to swipe several major conservative bloggers, leaving only a handful of the larger ones behind. Copeland told me that, starting in April, conservative blogger Michelle Malkin will be returning to Blogads.

Indeed michellemalkin.com is back from Pajamas Media. Of two display slots on her site, one ad is running in the $450/week slot, though the $1,500 premium slot remains unfilled. However, this pattern could be seen long before the recession hit, and it’s always been my suspicion that the premium account is meant to sticker-shock buyers into believing the lower slot a bargain, while making the occasional big score from a flush-with-cash advertiser buying out the category.

I digress.

The Malkin-owned Hot Air however is not coming back to Blogads, not yet if at all. That site is running Google display ads as well as ads from Intermarkets, which handles Drudge Report and a few other political sites with less-Niagaran traffic.

Also quoted in Owens’ column is Chris Bowers of Open Left, who also goes through Blogads. Here’s what ad column on his site looked like on Friday:

I say that because as of Saturday afternoon, they’ve thrown a display ad that wasn’t in there before. Those displays can’t be bringing in a great deal of money. I’ll bet more than anything they’re running just to keep up the appearance of healthy advertising, and hopefully lure other advertisers into the column.

Meanwhile back on Bowers’ former site, MyDD, Jerome Armstrong is keeping the lights on with Google ads, Jane Hamsher’s CommonSense Media and something I’ve never heard of called Pulse 360 that nonetheless has an impressive network. Its Blogads slot remains on the site, unfilled. Two years ago, that would have been unthinkable. At Daily Kos, long one of Blogads’ top earners, Markos Moulitsas has had a diversified pool of ads for some time; today premium Blogads slot is unfilled, one flash-based display ad occupies the (almost-identically placed) lower slot, and just one traditional Blogad (JPG/GIF + a few lines of text) is running (pictured at right). That’s Markos Moulitsas’ latest book, as if you needed me to tell you that. I presume that Daily Kos today is earning significantly less than its election-season peak.

What about Blog P.I.? I haven’t sold a Blogads slot in months, but then again, I almost never do. My traffic may be better than Michael “Heckuva Job” Brownie’s, but I consistently rank near or at the bottom of the Political Insiders Advertising Network. What can I say? I write for a very niche audience when I have the time and inspiration. That’s no way to build an audience, and consequently no way to build an advertising base.

I wonder if this slowdown and possible leveling-off of blogging as a business could bring back some of the amateurism of the blogosphere — a tradition Blog P.I. upholds proudly, if occasionally, at least until someone is willing to pay me to do this (though I am grateful to NMS for hosting this site). Until that time, I’d like to see an ascendance of long-form blogging from experts. More analysis, less attitude. More Ed Feltens and fewer Duncan Blacks.

This is an especially good time for it, as back-and-forth discussions and quick-hit commentary is already moving to Twitter. Of course we’ll need someone to pick out the best stuff, like Memeorandum but with an eye for quality. Just as Silicon Alley Insider suggested yesterday, a curator’s approach to content could be where editing as a profession is going.

Of course, for that you need money too, and money will be scarce over the coming year, which is why I think we will see less blogging for dollars and more blogging for ideas. It will be painful for many, and already has if you consider Gawker’s contraction. But it might be a worthwhile thinning of the herd. And there will be plenty of time to blog for dollars when the Dow is back over 10,000.