In many towns and cities, the newspaper is an endangered species. At least 300 daily papers have stopped publishing over the past 30 years. Those newspapers that have survived are struggling financially. Newspaper circulation has declined steadily for more than 10 years. Average daily circulation is down 2.6 percent in the last six months alone.
Newspapers have also been hurt by significant cuts in advertising revenue, which accounts for at least 75 percent of their revenue. Their share of the advertising market has fallen every year for the past decade, while online advertising has increased greatly.