Gannett's newspaper advertising revenue fell 5.3% last month from a year ago, the company said today, on continuing sharp declines in real estate and job-related ads.The overall decline represented an acceleration over the 4.8% fall in September. At USA Today, the only individual paper for which Gannett breaks out results, ad revenue fell 6.3%.
Gannett's community newspapers were hurt again by the loss of classified advertising to Craigslist, Monster and other online rivals, the company's statement shows. Classified ad revenue fell 9.7%. Within that category, real estate ad revenue plunged 13.5%, employment revenue fell 10.4%, and auto-related declined 13.4%.
This chart shows the monthly change in ad revenue from the year-before period. Crummy way to start the week, eh?
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