By: E&P Staff
At his “Reflections of a Newsosaur” blog today, E&P columnist Alan Mutter offers some more sobering news — new data show that newspapers’ online advertising revenues have grown at a far slower pace since 2003 than digital sales across all media.
“While total online revenues in the United States rose 211% since 2003 to $22.7 billion in 2009, interactive advertising at newspapers in the same period gained 125% to $2.7 billion,” Mutter writes.
“Even more troubling, the share of online spending captured by newspapers has dropped by a hefty 25% in the last three years, tumbling to an all-time low in 2009. … Publishers first ignored the new media in hopes they would go away and then blew tens of millions on ill-conceived, technologically tin-eared, bureaucratically bloated and under-promoted projects that failed to come close to countless innovative efforts brought to market by such garage dwellers as Sergey Brin and Larry Page.”
Check it out, here.