By: E&P Staff A Merrill Lynch report released today shows that newspaper ad revenues for April grew 4.5%, down from March's 6%. In March, newspapers reaped the benefits of an early Easter.
The investment firm predicts that the industry will pick up again in May and June, especially compared to the same period last year when many department stores pulled in the reins on ad spending.
Help wanted continued to shine in April. Many companies reported 15-20% growth. However, other classified categories are beginning to slow down, including real estate and automotive.
The report singled out USA Today in terms of national advertising "up 15% in pages and 25% in revenues." Travel and financial services picked up though telecom and technology are still varied.
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