ARLINGTON, Virginia: US newspaper advertising revenues continue to take a pounding as recession tightens its grip upon the industry as well as the nation at large.
Third quarter figures, just released by the Newspaper Association of America
, point to an 18.1% year-on-year slump in ad revenues – equivalent to almost $2 billion (€1.58bn; £1.35bn).
The decline in the quarter to September 30 is the steepest since NAA records began. It also underscores the increasing deceleration in spend since Q3 in 2006, when slippage was a mere 1.5%.
Total spend for the latest quarter was $8.94bn compared with $10.92bn in the year-ago period. Not since the first quarter of 1996 have ad revenues fallen below $9bn.
Newspapers' online ad income was less affected (down 3% to $749.8m) than print revenues which fell by 19.3% from $10.15bn to $8.19bn.
But online's current performance compares ill with the ongoing double-digit growth it enjoyed between 2004-2007.
Data sourced from Business Week (online); additional content by WARC staff