Free-fall: Adjusted for inflation, print newspaper advertising revenue in 2012 was lower than in 1950
In another publishing industry, print revenues are falling.
The Newspaper Association of America (NAA) released its annual report today on American newspaper revenue, and the chart above displays updated advertising revenue data from the report through 2012.
The blue line in the chart above shows the total annual print newspaper advertising revenue(for the three categories national, retail, and classified) based on annual data from 1950 to 2012. The annual advertising revenues have been adjusted for inflation using the CPI, and appear in the chart as billions of constant 2012 dollars. Newspaper print advertising revenues of $18.9 billion in 2012 fell to the lowest annual level of print advertising since the NAA started tracking industry data in 1950. In 2012 dollars, advertising revenues last year were below the $19.75 billion spent in 1950, 62 years ago.
The decline in print newspaper advertising to a 62-year low is amazing by itself, but the sharp decline in recent years is pretty stunning. Print ad revenues fell by almost 50% in just the last four years, from $37 billion in 2008 to less than $19 billion last year; and by 66% over the last decade, from $56.3 billion in 2002.
Link to the rest at AEIdeas
PG says that nobody likes to see the employees of these organizations harmed. However, for those who insist that printed books will always be the predominant medium for distributing and consuming long-form writing, there is much conflicting evidence.