Biggest Revenue Drop Since 1950 for U.S. Newspaper Industry
March 29 2008 / by Accel Rose / In association with Future Blogger.net
Category: Business & Work Year: 2008 Rating: 8
U.S. newspapers experienced their biggest one-year drop in
advertising revenue since 1950, and perhaps of all-time,
reports the Newspaper Association of America.
A link buried at the bottom of a biased press release touting a 19% increase in online advertising for American newspapers (that also failed to mention the largest decline in print advertising since anyone began tallying the figures) reveals a spreadsheet that in turn reveals a 9.4% drop in traditional ad revenue. Of course, this figure dwarfs the online gains and totally wipes out the slight progress the industry made in the years following a 9.0% decline in 2001, the previous record.
The new stats reinforce the unsurprising notion that the old-school newspaper companies must transition to new online ad models or perish.
Adding insult to injury, another report finds that 73% of journalists “sometimes or always use blogs” in their research.
(via Editor & Publisher and Midas Oracle)
