A decline in real estate ads –Â which primarily run in the business section and sections that daily business sections put together — could spell trouble for many newspapers, writes Bloomberg’s Tim Mullaney.
“The collapse is especially significant because home-sale ads propped up newspapers last year, after automotive and employment spending declined. Real estate accounted for $5.16 billion, or 30 percent of all classified spending at newspapers, where overall advertising totaled $46.6 billion in 2006, according to the Newspaper Association of America.
“‘Two billion dollars a year is going to come out of newspapers,’ said analyst Matt Booth at Kelsey Group in Pasadena, California. ‘It’s going to be tough to make that up.'”
Read more here.Â
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