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Well I guess I overstated, newspaper advertising is only down 48% in the last five years, with no sign of a comeback-
Combined online and print newspaper ad revenues fell 6.9 percent to $5.9 billion in Q2, marking the 20th consecutive decline for the industry, according to the latest figures from the Newspaper Association of America.
The consecutive decreases began in Q306, when combined print and online ad dollars declined a mere 1.5 percent to $11.7 billion. Since that point, newspaper ad dollars have fallen 48.8 percent, and there is no sign of a comeback.
Here is what wikipedia says on the subject:
The primary source of newspaper income is advertising – in the form of "classifieds" or inserted advertising circulars – rather than circulation income. However, since the late 1990s, this revenue source has been directly challenged by Web sites like eBay (for sales of secondhand items), Monster.com (jobs), and Craigslist (everything).
When we need yard sign installers we throw an ad on craigslist naming the town, route size and we now have a database of over 2,600 weekend job applicants who have filled out a 24 question online application from a link in the craigslist ad. If we ran newspaper ads they would either call or fax and it would eat up a lot more time on our end. We also wouldn't get all the questions we need answered, such as do you have a valid drivers license, insurance, a cell phone and internet access (our drivers need to reachable and able to do a weekly report online).
While I feel bad for people in the newspaper industry, I love the internet and what it can do for my business.
I wouldn't use wikipedia as a source for anything. You do know anyone can submit anything to wikipedia and its not fact checked, right? I go on their all the time and post conspiracy theory things just to see how many people will repost it as gospel all over the internet.
Your business model may not benefit from Newspaper ads however, many businesses still do. I find the majority of my grocery coupons in the paper. Online coupons really are a scam since you have to print them yourself it really eliminates most of the savings after ink and paper costs. Most companies are realizing this and moving their ads back to newspapers and magazines. The internet only can go so far yet. Maybe in another 50 years we will be past it bought I really think the nostalgia of ink on paper that has lasted over 1000 years will keep us in its grasp.
You can't read the internet by candle light when the power is out and the cell towers are knocked down from the hurricane.