Newspapers are losing the most ad dollars to the Internet, says a new report from Wachovia Equity Research. The declines are most alarming in newspapers’ traditional advertising strongholds. Newspapers got 24% of telecom advertisers’ spending in 2006, compared to 31.6% the year before. The percentage of auto advertising spent on newspapers fell by half in a single year, from 9.2% in 2005 to 4.6% in 2006.
Interestingly, television is actually benefiting from this budget flight, perhaps indicating that the increasing irrelevance of daily newspapers is an isolated phenomenon, rather than a result of competition from online media. While mainstream media in general continue to feel pressure from online competition, the problems facing newspapers appear to be uniquely daunting.
This entry was posted on Tuesday, July 10th, 2007 at 7:26 pm and is filed under Advertising, Classifieds, NewMedia, Newspapers. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.