US newspapers, already facing a grim economic forecast, are digesting another piece of bad news: the growth in online advertising has slowed to a crawl. After 17 quarters of ballooning growth, online revenue at newspaper sites is falling. In the second quarter, it was down 2.4% compared with last year, to $777m (£419m), according to the Newspaper Association of America.
It was the only year-over-year drop since the group began measuring online revenue in 2003, reports the New York Times. See also Alan Mutter's prediction of a $7.5bn sales plunge forecast for newspapers as a reaction to the collapse of financial markets.
