US Print Advertising Revenue Drops More Than 28 Percent
US print advertising revenue dropped more than 28 percent in the third quarter of the year as online ads continue to pose threat to the newspaper industry.
According to the newspaper association of America, a total of $6.4 billion revenue has been loss by the print and online sectors as websites offering free classifieds continue to proliferate.
The Newspaper Association of America (NAA) on Friday said that print advertising revenue has dropped by 28.95 percent or $5.8 billion dollars in the third quarter of 2009 as online advertisements continue to push pressure on the print advertising.
Based on NAA record, the fall in the advertising revenue of newspapers, magazines, and other print media has a direct connection with the fall in classified advertising revenue, which has reached 37.9 percent or $1.46 billion dollars.
But the print industry was not alone in the losing battle, as the online community also posted a revenue decline, which has reached 16.92 percent or $623.1 million in the third quarter.
In total, the print and online industry has posted a total of $6.4 billion revenue loss in the third quarter of the year due to the proliferation of free online classified sites such as Craigslist.com, the NAA said.
NAA President and Chief Executive Officer John Sturm said that the figures were hardly surprising, citing the state of the overall economy in the US.
“Advertisers choose to go with the free marketing that other online websites offer rather than pay high prices in newspapers and magazines,” the official said.
But despite the recent turnout, Sturm said that the figures has also given some modest directional improvement to the market as key sectors such as the retail and national has posted growth over the last two quarters.
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