The Newspaper Association of America reported that advertising revenue for print newspapers in the U.S. fell to $20.7 billion in 2011. Adjusted for inflation, that’s the lowest annual advertising revenue for newspapers since 1951, sixty years ago. It took 50 years to go from about $20 billion in inflation-adjusted annual newspaper ad revenue in 1950 to $63.5 billion in 2000, and then only 11 years to go from $63.5 billion back to about $20 billion in 2011. This could be one of the best examples ever of “Schumpeterian creative destruction” displayed in a single graph.
My question about newspapers is a simple one: why do I need printouts of Democrat National Committee press releases when I can read them online?