The Newspaper Association of America has released the latest news showing the mass exodus of advertisers from newspapers.
Here is the quick summary for changes Q2 2008 to Q2 2009:
- Print Advertising down 30.1%, Online Advertising down 15.9% and Classified Advertising down 40.4%
- Total Advertising (Print and Online) down 29%
- Real Estate Classified Advertising down 45.8%
It’s the biggest drop ever in real estate advertising, but not as big as the drop in recruitment advertising, which is down 66% year over year and looks like it is heading to zero.
Echoing what we’ve seen in the housing market and unemployment rate, the rate of decline in print advertising has started to slow over recent months. One might be tempted to believe that for the print Industry the worst is behind them. However, a quick glance at the long term trend of recruiting classified advertising revenues, which was hit hard in the last recession, the print industry looks unlikely to ever recover as the advertisers shift to online options.
The real estate audience left newspapers long ago and the ad dollars are now finally leaving for good. With fewer dollars around to support ever increasing consumer expectations, it looks like newspapers are going to continue to struggle. Advertisers are realizing that they can target an engaged audience, using advanced local ad products that are reasonably priced by going online.
More charts below showing the collapse of Automotive and Recruitment Classified Advertising trends.
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September 1st, 2009 at 12:05 pm
Newspaper advertising may not be around for much longer, given the might of the internet, search engines, blogs, etc. The print advertising industry is still hanging on in there though…… for the time being.