The newspaper industry continues to get hit hard by the advertising recession. Advertising sales fell by 28%, or $2.6 billion, in the first three months of this year, according to the Newspaper Association of America.
Print classifieds took a nose-dive drop of 42% to $1.5 billion, driving overall print advertising down 29% to $5.9 billion.
The newspaper industry is on track to generate $30 billion in revenue this year, the worst year since 1987. The newspaper industry hit an all-time high in sales of $49.4 billion just four years ago.
Among other notable stats from Newsosaur:
-Employment classified advertising fell 67.4% to $205.4 million
-Real estate classified advertising fell 45.6% to $336.9 million
-Automotive classified advertising fell 43.4% to $332.8 million
-National advertising declined 25.9% to $1.1 billion
-Retail advertising stumbled 23.7% to $3.3 billion
-Other classified advertising slid 16.5% to $587.7 million.
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