The newspaper industry has experienced the worst drop in advertising revenue in more than 50 years, according to the Newspaper Association of America.
Read the full article on Editor and Publisher.
Some Stats from the Article:
- Total print advertising revenue in 2007 plunged 9.4% to $42 billion
- Classified plunged 16.5% to $14.1 billion.
- Internet ad revenue in 2007 grew 18.8% to $3.2 billion compared to 2006.
Advertising as a whole
- Total advertising revenue in 2007 — including online revenue — decreased 7.9% to $45.3 billion compared to the prior year.
Newspapers earning more of their money online
- The NAA reported that online revenue now represents 7.5% of total newspaper ad revenue in 2007 compared to 5.7% in 2006.
Tip of the Hat to The Cycle for pointing out the article.
Google, whose stock was trading at over $740 per share in Nov. 2007, had no comment.