Print-ad revenue at U.S. newspapers last year suffered its biggest decline since at least 1950, the Newspaper Association of America reported, amid signs that conditions in the newspaper industry have worsened so far this year.
Print-ad revenue plummeted 9.4% to $42 billion in 2007, according to an NAA estimate released Friday. Classified ads, which account for a third of the total, were hit especially hard, down almost 17%.
The NAA's estimate showed that while newspapers' online-ad revenue is growing, the extra ad dollars coming from the Internet aren't enough to offset the lost print revenue. Including online revenue, newspapers still saw ad spending fall 7.9% in 2007 -- second only to the 9% decline the NAA reported they experienced in 2001, when the estimate didn't include online revenue.