Craigslist is the website with the single impact effect on the newspaper industry. By creating an easy to use, online classified portal, Craigslist inadvertently took away the average newspaper's most dependable source of revenue.
Researchers credit Craigslist’s growth with billions of dollars of lost advertising revenue for the newspaper industry. Now, whether or not this was Craigslist thoughtlessly disrupting an American institution—or if newspapers had gotten too stagnant and greedy to see the inevitability of a better product coming around—is a different and disputed question.
In this video below, we examine the impact of Craigslist on the local news industry, the effects of which are still being felt today.