SAN FRANCISCO (AP) — The U.S. newspaper industry’s financial slump reached a discouraging milestone during the second quarter. Advertising revenue, newspapers’ main source of revenue, has now been falling for five years.
The April-June period marked the 20th straight quarter that ad revenue at U.S. newspapers decreased from the prior year. Newspapers brought in nearly $6 billion from print and online advertising combined during the second quarter, a 7 percent decline from the same time in 2010.
The Newspaper Association of America released the figures Thursday.
Newspapers have been stung by a weak economy and a technology shift that has driven more readers and advertisers to less expensive alternatives on the Internet.
Publishers have been trying to adapt by expanding their digital operations, but online ads aren’t as lucrative as print.