The newspaper industry in the United States continues to shrink at an alarming rate.
According to the Newspaper Association of America, total industry advertising (both print and online) in the third quarter of the year was $8.9 billion (Dh32.69bn), down 18 per cent from the year before.
The online portion of that was $750 million, down three per cent. So far in the first three quarters of 2008, the industry's total advertising revenues have shrunk by $5bn to $27.8bn.
Print advertising has been declining for 10 straight quarters, but this latest data marks only the second quarter that online advertising also went down. However, the cause of greater concern is that the overall rate of decline seems to be accelerating, a trend first noted in September.
Ad decline
Newspapers in the US are seeing a decline in advertising. Following is the percentage change in total newspaper advertising for the past five quarters:
3Q07: -7.4%
4Q07: -10.3%
1Q08: -12.85%
2Q08: -15.11%
3Q08: -18.11%
Follow Emirates 24|7 on Google News.
