Business News
US newspapers see record drop in ad sales
Dec 2, 2008, 19:59 GMT
Los Angeles - US newspapers experienced a record 18 per cent drop in advertising revenue in the third quarter, according to a figures released by the Newspaper Association of America.
The study, which was distributed Tuesday, said overall print ad revenue fell to 8.2 billion dollars from 10.2 billion dollars in the year-ago quarter. Online ad revenue was also lower, falling 3 per cent to 749.8 million dollars from 773 million dollars a year ago.
Newspaper ad spending has been declining without interruption since 2006, but the latest figures reflect the combined effects of the recession; a steep drop in real estate, auto and bank advertising; and the continued defection of newspaper readers to the internet.
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