New data from the Newspaper Association of America indicates a $7.5-billion decline in print and online advertising in 2008. Even online revenues declined, albeit slightly.
The 16.6-per-cent drop was most significant in classified, employment and automotive categories.n But local and national retail also took hits in the year.
In his Reflections of a Newsosaur blog, Alan Mutter calculates that nearly one-quarter of all newspaper/online advertising has disappeared in three years, despite strong economic growth and online growth for much of that period. Clearly 2008 was the worst year on record for the U.S. newspaper industry.