Newspaper Classified Revenue Declines Again in 2008

Posted March 31, 2009 * Comments(7)

The slowing economy is having an impact on advertising revenues in all mediums, but the hardest hit appears to be newspaper classified advertising revenue. According to new figures released by the American Newspaper Association, newspaper advertising revenues fell to their lowest levels in 14 years.

Print advertising dollars fell by 17.7% to $34.740 billion and on line advertising fell by 1.8% to $3.166 billion in 2008.

It is not surprising then that 4 major US newspaper groups are in bankruptcy protection, the most notable is the Tribune Co, owners of papers in Chicago & Los Angeles. Seven newspapers have closed or are about to close and switch to an on line model to survive due to losses in advertising revenue.

Real Estate sections in the press have also been hit hard with newspapers advertising revenue from real estate falling 37% in 2008, car adds fell 29% and employment 42.5%. In total, real estate advertising and employment classified advertising has fallen more than 60% since 2006.

I’m sure these figures will give the Australian newspapers cause for concern.

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7 Comments so far

  1. Leigh Ann Kristiansen on March 31st, 2009

    The little known secret is that as newspaper circulations decline, many major metropolitan newspapers are raising their classified advertising rates and forcing their advertisers into online buys on websites such as Yahoo! Hot Jobs and Career Builder. Many smaller advertisers simply cannot afford to advertise in the big Sunday paper!

    I specialize in classified media buying in the U.S. and I can assure you that smaller community papers and shopper publications are getting the business that the metros are leaving on the table!!

  2. andy jacob on March 31st, 2009

    Mike:Love your blog! Congratulations on your Blog
    I really like your writing style. Would you like to be a guest author on the Jacob Report? We have been voted one of the Top 100 Blogs in America, and we are assembling some of the best Blog Authors from around the web to contribute. We would like to include you as a guest author.You will get big exposure!
    The Jacob Report is everything Sales and Marketing, and it looks like you would be a great contributor!
    Let me know as quickly as you can please.

    Andy Jacob

  3. Mike Andrew on March 31st, 2009

    Hi Andy, Would love to be a guest author, just let me know how to participate. Thanks also for your kind comments on my blog efforts, certainly makes it worthwhile for me.

    Regards

    Mike

  4. Mike Andrew on March 31st, 2009

    Hi Leigh Ann,

    Let me thank you for your comments and your interest in reading my blog, I agree with your comments 100%, we have the same situation here with the local suburban newspapers acheiving better results than the main stream papers.

    Regards

    Mike

  5. matt on March 31st, 2009

    This blog’s great!! Thanks :) .

  6. andy jacob on April 1st, 2009

    Mike email me at Jake@leadpile.com for details please.

  7. andy jacob on April 1st, 2009

    Mike, email me at jake@leadpile.com

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