New York amid dotcom boom

Read the report if you don't believe us

Gnumeedjia luvvies in New York reckon life on the Net isn't as bad as everyone makes out and that their businesses will survive the current dotcom downturn.

According to the New York New Media Industry Survey: Climate Study, January 2001 published today, 70 per cent of new media businesses surveyed report they are "somewhat" to "very" optimistic about the new media industry in New York.

What's more, they reckon their companies will experience revenue growth in line with or significantly higher than, their expectations for their own industry as a whole.

The survey, conducted by PricewaterhouseCoopers LLP on behalf of the New York New Media Association (NYNMA), is designed to assess the state New York's new media industry.

Other gems from this altogether chirpy survey include almost two thirds of those quizzed reporting an operating profit for fiscal year 2000. Some 75 per cent expected to be profitable in fiscal year 2001. Oh, and gnumeedjia companies plan to increase employment by 41 per cent per year over the next two years.

"The unbridled growth of last year in every major technology city has ended, but this survey speaks volumes to the ongoing optimism of the industry in New York," said Alice Rodd O'Rourke, executive director of NYNMA.

Blinking heck. Either something really is stirring in the US - or there's been a mass swallowing of happy pills in Central Park. Whatever it is, we could do with it in Europe.

Earlier today El Reg cited another PwC report that claimed Europe is going titsup.com thanks to a major cash burn problem among Euro dotcoms. Ooohh eck. ®

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