Newspapers are facing their worst year ever for Ad Revenue, according to an article in today’s New York Times.
The Reason? The internet….
The primary long-term threat to newspapers is the Internet’s siphoning away of ad revenue, a trend that has been under way for more than a decade, but one that has picked up speed in the last year. Advertisers have vastly more choices online than on paper, so newspaper Web sites win only a fraction of the advertising that goes digital, and it pays much less than advertising in print.
At the same time, the Internet has drawn millions of new readers to papers, and the major ones reach far more readers than ever before.
As I said earlier this morning, I don’t get a newspaper anymore… but I read more than 8 newspapers online each day.