2007 was the worst year for newspaper advertising in 50 years, according to industry trade group, the Newspaper Association of America.
Revenues were down industry-wide by 9.4 percent. Online ad revenues were up 18.8 percent, but make up but 7.5 percent of the pie. And worse, online ad revenue growth has significantly slowed. It grew 31.4 percent in 2006
Coverage in Editor & Publisher and PaidContent, of which the latter said: Of course, the industry is getting hit with a double whammy: secular industry shifts, and the effects of a sorry economy, which has decimated core revenue bases like housing, employment and auto ads.
2008? No sign the flood waters are abating. Where’s the higher ground? Mark Potts says we’re over the cliff. Ken Doctor has some marketing ideas (Now! More Time on Sunday to Do Other Things!) to turn the industry around.