Grim US newspaper ad revenue figures released

Mar 27, 2009
Last year was the worst ever for the US newspaper industry with both print and online advertising revenue posting declines, according to Newspaper Association of America (NAA) figures.

Last year was the worst ever for the US newspaper industry with both print and online advertising revenue posting declines, according to Newspaper Association of America (NAA) figures.

Total fell 16.6 percent in 2008 over the previous year to 37.8 billion dollars, according to NAA figures released on Thursday.

revenue fell 17.7 percent to 34.7 billion dollars while online advertising revenue dropped 1.8 percent to 3.1 billion dollars.

Online advertising revenue had posted double-digit gains over the previous four years including a rise of 18.8 percent in 2007.

Classified advertising revenue continued to plunge last year, falling 29.7 percent to 9.97 billion dollars.

The US newspaper industry has been hit over the past few months by a wave of bankruptcies, job cuts and closures.

The 100-year-old Christian Science Monitor published its final daily print edition on Friday and two major dailies, the Rocky Mountain News of Denver, Colorado, and the Seattle Post-Intelligencer, have shut down in recent weeks.

Both the Monitor and the Post-Intelligencer plan to continue as Internet publications.

The New York Times and Washington Post announced another round of cost-cutting on Thursday

Among those recently declaring bankruptcy are Philadelphia Newspapers, owner of the Philadelphia Inquirer and the Philadelphia Daily News; the Tribune Co., owner of The Los Angeles Times, Chicago Tribune and six other dailies, and the Minneapolis Star Tribune.

(c) 2009 AFP

Explore further: Bitcoin exchange MtGox to start liquidation process

add to favorites email to friend print save as pdf

Related Stories

Seattle paper may have digital future

Mar 06, 2009

Time is running out for the Seattle Post-Intelligencer, whose publisher, the Hearst Corp., plans to close the money-losing newspaper if a buyer is not found by next week.

NY Times, Washington Post to cull staff

Mar 26, 2009

The New York Times and Washington Post, two of the most prestigious titles in American journalism, plan another round of pay cuts, layoffs and buyouts amid a steep decline in advertising revenue.

Semiconductor sales down 28.6 pct in January: SIA

Mar 02, 2009

Worldwide semiconductor sales declined 28.6 percent in January from a year ago as the global recession continued to take a big bite out of the computer chip industry, an industry tracker said Monday.

Recommended for you

Amazon launches grocery service for Prime members

6 minutes ago

Amazon is taking aim at grocery stores and discounters like Wal-Mart with a grocery service that lets its Prime loyalty club members fill up to a 45-pound box with groceries and get it shipped for a flat rate of $5.99.

Facebook buys fitness app Moves

3 hours ago

Facebook has bought the fitness app Moves, which helps users monitor daily physical activity and their calorie counts on a smartphone.

SK Hynix posts Q1 surge in net profit

11 hours ago

South Korea's SK Hynix Inc said Thursday its first-quarter net profit surged nearly 350 percent from the previous year on a spike in sales of PC memory chips.

Zynga founder Pincus leaving operations role

22 hours ago

Online game maker Zynga says company founder Mark Pincus is stepping down as chief product officer, less than a year after he was replaced as the company's CEO.

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

freethinking
1 / 5 (3) Mar 28, 2009
Since the democrats get a lot of support from the newspapers, just wait, theyll get a bail out. Democrats cant let one of thier propraganda arms fall.

More news stories

Facebook buys fitness app Moves

Facebook has bought the fitness app Moves, which helps users monitor daily physical activity and their calorie counts on a smartphone.

Autism Genome Project delivers genetic discovery

A new study from investigators with the Autism Genome Project, the world's largest research project on identifying genes associated with risk for autism, has found that the comprehensive use of copy number variant (CNV) genetic ...

Study links California drought to global warming

While researchers have sometimes connected weather extremes to man-made global warming, usually it is not done in real time. Now a study is asserting a link between climate change and both the intensifying California drought ...