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BizReport : Advertising : June 18, 2008
Newspaper ad revenue growth Q1 slowdown
Newspaper advertising revenue growth slowed in Q1 2008 by the largest amount since the Newspaper Association of America began measuring ad results back in 1971.
Total print and online ad revenue fell 12.8% to $9.2 billion in Q1 of this year compared to last according to figures released by the Newspaper Association of America. Classified ad revenue plummeted 25% during the same period to $2.5 billion and national ad revenue slid 9.5%.
Even online newspaper ad revenues couldn’t soften the fall. Growth in this area also slowed, rising just 7.2% to $804 million, a stark contrast to Q1 2007 which saw a 22% gain.
The damaging drops are forcing newspaper publishers to cut back on staff. As McClatchy Chief Executive Gary Pruitt explained, "The effects of the current national economic downturn -- particularly in real estate, auto and employment advertising -- make it essential that we move faster now to realign our work force and make our operations more efficient.”
Tags: advertising revenue, newspapers, online advertising, print advertising
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I was a Charlotte Observer staffer for 20 years. Gary Pruitt must have smoked a lot of pot in his day, because he hasn't a clue about how to run an organization period. Just another privleged hippie. Just another waste of American time...