The prospects for Verizon are about as attractive as those of the World Trade Center its headquarters used to stand beside
IBISWorld, a market research company, has a database of almost 700 industries, of which 200 are declining. The organization recently compiled a list of ten industries that are possibly close to extinction in the United States.
Revenues for wired telecommunications carriers have dropped almost 55 percent since 2000, which a further decline of 37 percent expected in the next six years. Big hitters such as Verizon and AT&T continue to dominate the industry, despite shedding customers constantly.
Record stores have been caught out by changes in the way people locate, purchase, and listen to music. There is still a core following for vinyl, but the situation is the opposite of rosy outside that niche. Revenue has plummeted 76 percent since 2000, and IBIS foresees the loss of another 40 percent by 2016.
Digital cameras and home printing have reduced the public appetite for a hard copy of a photograph from photofinishers like the once-mammoth Ritz Camera, Fuji Film, and Eastman Kodak companies. Revenue has decline nearly 70 percent in the last ten years, with an additional fall of 40 percent by 2016. Video post production has also been hard hit by do-it-yourself capabilities, and revenues have fallen by 25 percent in the last decade, and they are expected to fall 11 percent more by 2016.
Thanks largely to the internet, Newspaper revenue has fallen 36 percent since 2000, and is expected to fall 20 percent more by 2016.
Vultures are gathering above these industries.
Photo: Aude
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Veronica worked on Wall Street before becoming a business and financial writer. We are fortunate to have such a talented and knowledgeable journalist heading up our business news desk.
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