By: E&P Staff
After charting newspaper revenue reports this past week, we knew it was bad, but maybe not this bad. The New York Times looks at the overall picture today, explaining, “Revenue from advertising was in striking decline last month, compared with February a year ago, and were generally weaker than analysts had expected….many industry watchers were wondering whether the February declines were part of a short-term slump or whether they signal a deepening systemic problem.”
Taken together the February sales were ?the worst group performance to date,? Steven Barlow, an analyst at Prudential Equity Group, wrote to his clients, the Times reveals.
?I?m reluctant to say that a single data point is a trend,? said Barry Parr, a media analyst at Jupiter Research. ?But those are scary numbers, especially when we?re not in a recession.?
The full report can be found at www.nytimes.com.