“U.S. newspaper industry ad revenue, helped by a slowdown in the drop of print ad sales, fell 28 percent in the third quarter, Newspaper Association of America data show,” according to Bloomberg News. “It was a narrower decline than the previous period.
“… Total ad sales plunged 29 percent in the second quarter.
“’The broad consensus is that the worst has passed,’ NAA Chief Executive Officer John Sturm said in a statement. ‘These numbers are in line with most expectations.’”
Reuters, on the other hand, says, “If AOL’s announcement on Thursday of another 2,500 job cuts is anything to go by, the painful layoffs that have ravaged the media industry over the past year are nowhere near over.
“Newspaper publishers haven’t posted a quarterly gain in ad revenue since the third quarter of 2006,” Bloomberg says.
Tags: revenue
I think one reason newspapers are in the fix they’re in is the desire of newspaper chiefs to buy into “broad consensus.”