Two weeks ago, the Newspaper Association of America published its quarterly advertising report. As we reported earlier, the results were not good. In fact it was the worst quarter in thirty years when accounting for inflation.
Looking at annual numbers, the outlook is even more dramatic: if nothing extraordinary happens in the last few months of this year, 2012 will be the worst year for American newspapers since 1950. Professor Mark J. Perry of the University of Michigan estimates print advertising revenues of $19 billion this year. Taking inflation into account that is a 71 percent decline from the peak in 2000 and below the level of 1950.