Newspaper Nine Queensland
(Image: Unsplash/Bank Phrom)

There’s something ironic about the fact that the global COVID-19 shutdown is causing enormous commercial damage to the media industry at the same time as the news industry is achieving record audience numbers.

News websites have all seen soaring numbers and in many cases, subscriptions have also been rising.

The problem is advertising, which appears to have collapsed by at least 25% globally -- hitting everyone from Facebook and Google through to hyper-local, independently owne monthly publications like CBD News in Melbourne.