SAN FRANCISCO (WKOW) -- More bad news for the Newspaper industry. Advertising revenue dropped 28 percent in the third quarter to $6.4 billion.
The report released Thursday by the Newspaper Association of America leaves little doubt newspapers will have to manage through the fourth year of a slump that has already killed some publications and eliminated thousands of jobs.
Advertising sales are the main source of newspaper income, and that revenue has declined for 13 straight quarters.
About the only good news to emerge from the July-September period is that the erosion wasn't quite as bad as the previous quarter when newspaper advertising revenue dropped 29 percent rather than 28 percent.
Still, U.S. newspapers collected $2.5 billion less in advertising revenue during the quarter than they did at the same time last year.