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Newspaper Ad Profits Down Despite Increase in Online Ads

Posted Nov 21, 07 11:49 AM CST in Technology,  Business 

(Newser) – A 21% third-quarter increase in newspapers' online advertising revenues was not enough to offset a print ad spending decline that brought total ad spending down 7.4% to $10.9B. As major newspaper companies grapple with contracting print revenues and declining profits, Gannett's USA Today has announced 8.8% cuts of editorial staff, Reuters reports.

This was the 14th consecutive quarter of double-digit percentage growth for the online ad sector, which now accounts for 7.1% of newspaper ad spending, up from 5.4% a year ago but still not enough to offset print ad losses. Classified ads, down 17%, have been especially hard hit, followed by retail ads, which are down 4.9%.

Source Reuters

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A customer buys The Kansas City Star from a vending machine in downtown Kansas City, Mo., in this Feb. 6, 2007 file photo. Newspaper publisher McClatchy Co. said Tuesday, April 25, 2007 its first-quarter...   (Associated Press)
A Washington Post newspaper box in seen in Washington, Friday, May 4, 2007. Media company The Washington Post Co. said Friday its first-quarter profit fell 16 percent as revenue from newspapers and magazines...   (Associated Press)
A New York Times delivery truck stops in New York's Times Square in this Oct. 19, 2005 file photo. Newspaper publisher New York Times Co. said Thursday, April 19, 2007 that its first-quarter profit fell...   (Associated Press)
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