The ad revenue media companies lost in the downturn won't be coming back when things turn around, Steve Ballmer told an advertising conference yesterday. The Microsoft boss said the industry has been "reset" at a lower level, and media companies are going to have to learn to survive on less revenue as content continues to move online and traditional media fade, the Guardian reports.
"A recession implies recovery, and for planning purposes I don't think we will. We have reset and won't rebound and re-grow," said Ballmer, who predicted that all content would be online within 10 years. Ballmer warned that a big part of the problem for media companies is their failure, apart from Google, to find models that can generate serious revenue online.