More bad news news about the economy and the newspaper industry. This is a particularly disturbing headline, especially if you’re in the newspaper industry. Plus, it’s an industry I’m fond of. Yes, that’s right – newspapers have had the worst drop in advertising revenue in more than 50 years.
The Newspaper Association of America (NAA), shows that total print advertising revenue fell 9.4% in 2007 compared to 2006. It now stands at $42 billion. That’s the most severe percent decline since the association started measuring advertising revenue in 1950. The worst drop before that was in 2001 when revenue dropped 9%.