The Print Edition
The Christian Science Monitor has announced plans to cease daily print publication. It is due to celebrate its one hundredth anniversary later this month. The move has other major newspapers wondering whether this is the future of mainstream journalism.Well, of course, they all know it is. Circulation numbers and ad revenues have been dropping at astounding rates for years - each quarter seeing painful losses. Now, with a bad economy and a horrible ad sales environment, it's getting worse.
U.S. newspaper advertising revenue collapsed by nearly $2 billion, or 18 percent, in the third quarter, according to the Newspaper Association of America, an industry group. Even online ad revenue made a small U-turn for the second quarter in a row.In ten years, will anyone still be driving a daily newspaper to your front door? Maybe the New York Times, maybe the Washington Post. But then again, it's not likely. Will someone still be printing one? Probably - but who knows where?
Print ad revenue dropped 19.3 percent to $8.19 billion from $10.15 billion. Online ad revenue fell 3 percent to $749.8 million from $773.0 million a year ago — a remarkable turnaround since the steady double-digit growth from 2004 to 2007.The decline in online income shows what a bad economy we're in - and it shows how suddenly it hit.
The 7.2 percent increase in online ad spending in the first quarter of 2008 was the last quarter of year-over-year gain.
If lack of interest amongst readers and advertisers doesn't get the papers to move 100% online, the global warming movement surely will.