By: E&P Staff
Folks in Palm Springs really like their newspapers, according to a new report out from BIA Financial Network.
Newspapers in the Californian town garnered the highest local media advertising share across all markets in 2002, the most recent figures available. The information is based on the analysis of revenue generated by local daily newspapers, radio and television stations.
Gannett’s The Desert Sun and the independently owned Record Gazette accounted for 78.4% of local ad dollars. The Sun, a powerhouse in the market, generated about $40 million in ad revenue in 2002. The Gazette added $1 million. Their combined share led to a one-sided advantage over other media — TV stations in the market had 14.3% and radio accounted for 7.2%.
“Newspapers in the Palm Springs area appear to be very effective at focusing on local retailers, leading to a strong desire to advertise in this medium,” said Mark Fratrik, vice president of BIA Financial Network.
BIA Financial Network is a strategic advisory and research firm for the media industry.