According to the Newspaper Association of America, newspaper ads have taken a huge dive in the first quarter of 2009—a whopping 30% decline compared with last year’s sales.
But online revenue has also fallen—though a less dramatic cut at 13.4%. In fact, online news sales are even being compared to airlines in their price discrimination.
In both print and online media, the biggest drop was in classified sales, an area that has seen a 42.3% cut. And who can blame people for not buying ads these days when there’s Craigslist and other free ad hosting services available?
Media analyst jack Myers says that this is just the beginning. He’s predicting another round of losses at 22.5% this year. Read more
