Dinosaur Media In The Swamp Watch
Advertising dollars spent on U.S. newspapers and their Web sites declined 7.4% in the third quarter to $11 billion, a further sign of a deteriorating trend in print publishing, the Newspaper Association of America said.
Spending for print ads in newspapers fell 9% from a year earlier to $10.1 billion, more than offsetting a 21% gain in dollars spent on Internet-based ads, the trade organization said. Online advertising now accounts for 7.1% of newspaper ad spending, up from 5.4% a year earlier.
As more readers get news and information from the Internet, print circulation has dwindled, and advertisers have reacted accordingly. Some of the biggest traditional newspaper advertisers, such as auto makers and airlines, have it hard times in recent years, further depressing print-advertising revenue. Consolidation among major retailers has also had some effect.
On a related note, I subscribed this morning the “Media and Marketing” edition of the WSJ.com. Why would I pay to read an old media print paper when I can have a new media specialty publication on my industry? And why would an advertiser seeking to reach influencers generally and media professionals specifically spend their ad budget on generalist papers reflecting a communications model that is in near complete eclipse?