Advertising Revenue Drop Rates to Slow Down in the Coming Year – MNI, GCI, NYT, NWSA
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There is good news for firms that publish newspapers – advertising revenue drop rates will slow down a bit in 2013. The reasons for this changing trend are the steadily improving economy and the real estate market becoming more stable. According to Benchmark analyst Ed Atorino, he predicts that ad revenues for these firms will drop at 4%-7% this year and the decline rate will slow down to 3%-5% in the next.
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The last decade was not too promising as newspaper revenues sharply declined. The Newspaper Association of America reports that print and online ad revenue for newspapers plummeted to $23.9 billion last year from $46.2 billion in 2003. Atorino has positive hopes due to the drop rate in print advertising reducing slightly and a steady growth in digital newspaper advertising.
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The Wall Street Journal unveiled its first edition of its brand new real estate section, called “Mansion”, which will be available on a weekly basis. The section comprised ads for upper-end properties and there was a highlighted portion about the three homes of poet Maya Angelou. It is now clear as to how the real estate market will prove to be beneficial for newspapers.
Midday trading on Wednesday showed mixed results for shares of newspaper publishers. The McClatchy Company(NYSE:MNI) went up 14 cents or 5.5% to $2.70, while Wall Street Journal publisher News Corp(NASDAQ:NWSA) went down 28 cents to $24.34. The New York Times Company(NYSE:NYT) shares declined 7 cents or 0.70% at $9.98 and USA Today publisher Gannett Co., Inc.(NYSE:GCI) went down by 0.95% or 17 cents to $17.72.
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