Correction: Double-Digit Newspaper Declines
Apr 24, 2007, 8:00 AM
A story published in MediaDailyNews on Friday, April 20, titled "Black, White And Bad All Over: Tribune, NY Times, Gannett Endure Rev Declines, Online Slows In 1Q," misquoted newspaper analyst Ken Doctor as saying newspapers were experiencing double-digit declines in national and classified advertising. Doctor actually said that most newspapers are experiencing single-digit declines in some, but not necessarily all, these categories. Some newspapers are indeed experiencing double-digit declines in classified revenue, including the Tribune Co., which dropped by 14% in first quarter 2007 compared to 2006. According to the latest national figures from the Newspaper Association of America, in fourth-quarter 2006, automotive classified revenues fell 12.85% and job recruitment fell 7.52%; however, real estate classifieds rose 11.3%. Doctor's statement was intended largely as an observation that in newspapers' first-quarter reports, real-estate classified ad revenue is also declining, but not necessarily by double digits.