Attention, newspaper haters!
There’s going to be an ad revenue recovery for the beleaguered industry, and it’s coming soon. Yes, the decline is about to end, according to a new forecast that projects print ad revenue will actually rebound 2.4% next year.
Beyond 2010, ad research firm Borrell Associates forecasts that by 2014 newspaper income will be up 8.7% over 2009 and that newspapers’ share of total ad revenue will jump from 14.4% to 15.9%.
How is this going to happen? The thinking is that newspapers are going to stick around as niche players serving a “greatly distilled” audience of well-educated, higher-income readers. Smaller-market publications are actually doing well and, overall, the medium is doing a better job of selling ads and using their sales staffs effectively.
Also good news for the business: 59% of adults still use newspapers for planning, shopping and purchase decisions, making it the leading advertising medium for these activities. And other media trail well behind newspapers as the primary medium for checking out advertising. The closest competitor, the Internet, trails newspapers by 20 percentage points.