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Daily Newspapers Crushed By Horrendous Q3
The rapid deterioration of the daily newspaper industry continued unabated in the 3rd quarter, with the National Newspaper Association reporting that ad revenue fell 7.4%. Print ad revenue fell 9% and classified ad revenue fell 17%. Among the big 3 classified categories, real estate advertising fell 24.4%, employment classifieds fell 19.7%, and auto classifieds fell 17.7%. While many newspapers pointed to a 21% rise in online advertising as a faint glimmer of hope amidst the decimation, the uptick in online ad revenue was smaller than it was during the same period a year ago (25.3%), on a smaller overall revenue base. In other words, it’s not much of a glimmer at all, and certainly not enough to off-set the overwhelming decline of print ad revenue. It’s akin to celebrating the arrival of a thimble to bail out a dinghy with a 4-foot gash in the hull.
[tags]Death of the Dailies, Declining Newspaper Industry, Newspaper Revenue Falling Off the Cliff, Is This The End?[/tags]