The New York Times is reporting tonight that U.S. newspaper advertising might be declining even faster than most thought.
Executives who have seen first-quarter numbers indicate declines approaching 30 per cent year-over-year are possible. In many cases, once-profitable papers have been pushed into the red, while losing firms have been pushed near bankruptcy.
The declines have been attributed to high cost structures, increased digital competition for ad dollars, and the recessionary decline in spending.
Executives told the Times that there were some signs of a slowing of the decline in March, but not sufficient slowing to signal a reversal of fortunes.