Factor #1. Independent media are captured and replaced with entertainment, 3
Factor #2. Many audiences have switched to digital, especially on mobile, 5
Factor #3. Mobile penetration is setting the conditions for an even greater shift, 6
Factor #4. Advertising revenues have followed audiences, 8
Factor #5. Fewer, bigger players are capturing a huge part of the pie… and there is one dominant player, 9
Factor #6. Ubiquitous, high-quality media compete for attention in an expanding world media market, 10
Factor #7. As advertisers follow audiences to digital, the advertising industry's architecture has been reshaped, 11
Factor #8. Advertising placement is driven by data, not deals, 12
Factor #9. Mobile ad blockers shut out revenue, 13
Factor #10. And then there is Facebook, 14
How News Outlets Are Performing in the Digital Advertising Market, 17
Charting a Course: How Independent Media Can Improve Digital Distribution, 22