The decline of the mainstream newspapers is rapidly turning into demise:
Last year was the worst on record for the U.S. newspaper industry. Total advertising revenues (both print and online) declined 16.6 percent to $37.85 billion, according to the latest figures from the Newspaper Association of America. That is $7.5 billion less than in 2007.
The amazing thing is that the downward trend is actually accelerating.
3Q07: -7.4%
4Q07: -10.3%
1Q08: -12.85%
2Q08: -15.11%
3Q08: -18.11%
4Q08: -19.74%
Although upon further reflection, it’s not so much amazing as it is perfectly logical. What company wants to spend money advertising its products to a shrinking audience that consists primarily of old people who possess habits that are demonstrably ossified?