Decline in newspaper ads
U.S. newspapers’ print advertising sales fell the most in 37 years in the first quarter, tumbling 14 per cent on shrinking real estate and job markets, and the loss of business to the Internet. Advertisers spent $8.43 billion U.S. on newspaper ads in the first three months of 2008, according to the Newspaper Association of America, the eighth drop in the last nine quarters. Real estate and recruitment ads each fell 35 per cent. Newspapers’ websites aren’t attracting enough dollars to pick up the slack. Newspaper-owned sites attracted $804 million in advertising during the quarter, the NAA said, up 7.2 per cent from last year and the smallest gain since the industry group began reporting online sales growth in 2004.