© GRAPHIC NEWS
© GRAPHIC NEWS
© GRAPHIC NEWS
BUSINESS
Print advertising in “freefall”
November 14, 2016 - In 2010, when mobile broke into mainstream advertising, newspapers and television were dominant with almost two-thirds (61.1%) of all global advertising revenue, around $281.3 billion. Now mobile has decimated newspaper ad income and internet is forecast to outperform TV ad revenues by 2018.
In the United States, The New York Times Company and Gannett are among companies reporting a steeper than expected drop in print advertising revenue in their latest financial quarter.
In Britain, the Guardian has confirmed losses of £68.7 million ($86.5m) for the last fiscal year, with print advertising down 15 percent. Earlier this year, Guardian Media Group cut some 250 jobs, including 100 in editorial and 150 from commercial departments -- out of about 725 worldwide -- in a bid to break even.