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Black And White And Bad All Over

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by Matt Haber
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Aug 28 2009 8:07am EDT

Black and White and Bad All Over

Just in case you'd forgotten that newspapers are suffering, The Newspaper Association of America released a report that in the second quarter of 2009, newspapers had $2.8 billion less revenue than they did at that time in 2008. That's a 29 percent drop from last year's revenue of $9.6 billion.

This bad news comes despite some small second quarter profit increases reported by the New York Times Company and Gannett in July.

NAA President and CEO John F. Sturm did his best to look at the bright side in a statement posted on the organization's site:

"[F]indings from a new MORI Research study show newspaper advertising remains the leading advertising medium cited by consumers in planning, shopping and making purchasing decisions, and drives them to take action... When the economy eventually begins its recovery, advertisers will return to spending, and newspapers will find themselves extremely well positioned to harness the strength of their print and digital platforms to build a brighter future."

The takeaway: Hang in there!

Matt Haber is the media blogger for Portfolio.com.
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