SAN FRANCISCO (AP) — Newspaper advertising revenue in the U.S. plunged 28 percent in the third quarter to $6.4 billion.
The figures released Thursday by the Newspaper Association of America leave little doubt newspapers will likely have to manage through the fourth year of a slump that has already killed some publications and wiped out thousands of jobs.
Advertising sales are the main source of newspaper income, and that revenue has declined year-over-year for 13 straight quarters.
About the only good news to emerge from the July-September period is that the erosion wasn't quite as bad as the previous quarter when newspaper advertising revenue dropped 29 percent rather than 28 percent.
Still, U.S. newspapers collected $2.5 billion less in advertising revenue during the quarter than they did at the same time last year.
To add a comment, please register or login.