The Future of Print

Newspaper slump deepens as 2Q ad sales fall 29 pct – Yahoo! Finance

Posted in Doom by futureofprint on August 27, 2009

SAN FRANCISCO AP — Newspapers’ financial woes worsened in the second quarter as advertising sales shrank by 29 percent, leaving publishers with $2.8 billion less revenue than they had at the same time last year.It’s the deepest downturn yet during a three-year free fall in advertising revenue — newspapers’ main source of income. The magnitude of the industry’s advertising losses have intensified in each of the last 12 quarters.

The latest turbulence left U.S. newspapers with ad sales of $6.8 billion in this year’s second quarter compared to $9.6 billion last year.

Through the first half of the year, newspaper ad revenue plunged 29 percent to $13.4 billion.

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