The captains of America's $60 billion (€45.2bn; £31.3bn) newspaper industry convened in New York this week to make obeisance to the gods of Wall Street in the annual rite known as the Credit Suisse First Boston Media Conference.

Dusting down their crystal balls, the tycoons' consensus was that 2005 would see "solid if unspectacular" gains in advertising revenue despite the foggy economic outlook and spiralling newsprint costs. To say nothing of those pesky workers who always want more money.

Bob Coen, chief haruspex at Universal McCann, had earlier told the conference that stateside newspaper advertising in 2005 would grow 5.7% against an all-media average of 6.4%.

The bevy of bosses concurred that the technology, financial services and movie studio sectors are the sources most likely to stimulate ad revenue growth in the year to come.

Data sourced from USA Today Online; additional content by WARC staff