The Newspaper Association of America (NAA) published its quarterly newspaper advertising data after third quarter of 2008. Compared to Q3 of 2007 total advertising fell 19 %. It is also really interesting that online advertising fell 3 % compared to the period a year before.
Just a short while ago I posted some publishers’ comments after Q3 interim results. They all told about significant challenges in classified sector. The NAA data reveals the same: Total print classified advertising dropped 30.9 %, Real Estate 38.6 %, Recruitment 43.6 % and Automotive 29.2 % compared to Q3 of 2007. Amazing numbers!
Though, it was already 2007, when we learned new word, subprime, and when the real estate sector started to stumble, it would be misleading to claim only the recession for the Q3 numbers. The financial crisis had not even started in full scale on the Q3 of 2008. Therefore, the summary tables above just show that current crisis accelerates the long term declining trend of newspaper advertising in US. Though not untouched from the effect of recession, I believe that online advertising will gain market share from print faster than anticipated.
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