Newspapers face ad revenue hit - The Detroit News
10.06.09
The closings will have a "significant impact" on Michigan newspapers, said Mike MacLaren, executive director of the Michigan Press Association, which represents more than 300 newspapers in the state.
"Automobile dealers have played an integral part of newspapers' revenue stream," he said. "It won't be the demise of any one newspaper, but it could be a factor in several papers rethinking their publishing strategy moving forward."
Nationwide, new car franchises spent $6.8 billion on advertising in 2008, down from $7.9 billion the previous year, according to the National Automobile Dealers Association. About one-quarter of all advertising money is spent on newspaper ads.
Newspapers were 51.6 percent of dealers' advertising spending in 1998 and only 23.3 percent of ad spending in 2008.
Dealership closings have already affected ad spending, said Paul Taylor, chief economist for NADA. The industry lost 960 dealerships last year as a result of a slow economy and tighter lending.
Source: The Detroit News, MI
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