People who report news for a living don’t like hearing about other news operations doing poorly. It just doesn’t bode well. Until less than a year ago, though, newspapers seemed to have a glimmer of hope through their online businesses.
Not anymore — at least for the time being.
After its first ever reported drop in online ad revenue in Q2 2008, the industry drifted another few notches in Q3. According to the Newspaper Association of America, online paper sites brought in $749.8 million in Q3, a drop of 3 percent from a year before.
At that time, Internet ad revenue reached $773 million, having risen a healthy 21 percent over Q3 2006.
Overall, combined print and online spending fell 18 percent in Q3 2008 to $8.9 billion.