Print and online advertising revenue dropped at American newspapers in the second quarter at a steeper rate than in the first three months of the year, according to figures from the Newspaper Association of America.
Revenue fell by 29 percent through the first half of the year, says the Associated Press. “It’s the deepest downturn yet during a three-year free fall in advertising revenue — newspapers’ main source of income.”
In the second quarter, print advertising fell 30 percent to $6.16 billion year-to-year, and online ads dropped by 16 percent to $653 million.
Ad sales dropped 28 percent in the first quarter to $6.62 billion, according to Bloomberg’s report on the new figures.
“The statistics served as a stark reminder of the crisis facing newspapers as they try to cope with a brutal recession and advertising trends that have shifted more marketing dollars to the Internet,” the AP says.
“When the economy eventually begins its recovery, advertisers will return to spending, and newspapers will find themselves extremely well positioned to harness the strength of their print and digital platforms to build a brighter future,” said John Sturm, the NAA’s chief executive.