U.S. newspaper revenues fell 9.4% in 2007, despite web ad gains

It's official, as if anyone needed a scorecard: newspaper revenues have dropped off a cliff or at least fallen down a very steep and slippery hill. Editor & Publisher has reported the Newspaper Association of America data that total print advertising revenue in 2007 plunged 9.4% to $42 billion compared to 2006 -- the most severe percent decline since the association started measuring advertising expenditures in 1950.

The only glimmer of good news was that internet ad revenue was up in 2007 by 18.8% to $3.2 billion compared to 2006. But even that seems to be slowing down: in 2006, online ad revenue had soared 31.4% to $2.6 billion. In 2005, it jumped 31.4% to $2 billion.