I think you will find that newspaper ad money was already finding its way into the online space.
The danger for IMS is that companies will cut back on their total marketing budgets. IMS is also heavily focused on lead generation, so if the actual services they are generating leads for are closed or scaled back then there will be a significant decline.
Overall, digital lead generation is the future, however there are a lot of players in this space and you need to be good at what you do to survive. Companies will be inspecting every corner of their marketing budgets to find savings and/or refocus into more specific channels. Will either be a long term positive or negative for IMS depending on if they are actually generating the ROI that they claim.
Only time will tell. Just cross your fingers and pray, as there is no point selling at these levels.
