Widely reported in multiple places – here's the update on the state of the newspaper advertising business from Silicon Alley Insider:
Newspaper print ad revenues dropped 9.4% in 2007 to $42 billion, the worst one-year drop in more than 50 years. That's according to the Newspaper Association of America, which started keeping track in 1950.
This is usually the point in one of these items where we insert a silver lining, in the form of rising online revenues. Unfortunately, that's slowing for newspapers, too. Online ad revenue grew 18.8% in 2007 to $3.2 billion. That's down from 31% growth in the each of the prior two years.
Total revenue in 2007--including online revenue--dropped 7.9% to $45.3 billion. Not helping: classified ad revenue dropped 16.5% to $14.1 billion. Thanks, Craig!
good2gether overview: we deliver new hyper-local content – information on nonprofits – in a hosted Web 2.0 platform that can be monetized through advertising and sponsorships…so the good news is that we bring a brand new revenue stream to our newspaper partners. And that explains why we're getting the traction we're getting.