Monday, December 1, 2008

Q3 ad revenues post sharp decline

Newspaper ad revenues fell almost 20 percent during the third quarter of 2008, the industry’s stiffest drop ever, according to statistics released last week by the Newspaper Association of America.

Newspapers racked up $8.94 billion in print and online ad revenues, down 18.11 percent from year-ago figures. The decline affected both print and online sales, with print down 19 percent to $8.2 billion and online falling 3 percent to just under $750 million for the three-month period.

As expected, classified ads took the biggest hit, down almost 31 percent, to $2.3 billion, reflecting the nation’s weakening economic condition.

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