• PaidContent.org, Wednesday, June 10, 2009 3:30 PM

PaidContent.org's Rafat Ali excerpts Fox Business's interview with Digg CEO Jay Adelson, who says his company is targeting profitability this year and will have plenty of cash in the bank once that happens. Adelson reports that those Digg buttons you see strewn across the Web generate 1.5 billion impressions per month, growing at a rate of 100 million to 200 million per month.

Adelson also reports that Digg's advertising business -- it's sole revenue source-is healthy and growing, with strong demographics and ad rates that are 10-20 times the price for an ad on a social network. He notes that Digg sends 80 million visits per month to sites like the LA Times, NY Times and WSJ, and says the company is working with traditional outlets to help them leverage social technologies to better monetize their user bases.

Adelson adds that pronouncing the death of newspapers is a little premature and that the industry will see massive consolidation with more national brands and fewer local brands over time.

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