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Newspapers in Decline

Newspapers in Decline Declining Readership 54% of Americans read a newspaper during the week 62% read on Sundays Declining Variety Number of newspapers has been dropping 1% per year for last 2 decades ~1,400 presently Who Reads Newspapers 18 - 24: 40% on a weekday 25 - 34: 41%

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Newspapers in Decline

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  1. Newspapers in Decline

  2. Declining Readership • 54% of Americans read a newspaper during the week • 62% read on Sundays

  3. Declining Variety • Number of newspapers has been dropping 1% per year for last 2 decades • ~1,400 presently

  4. Who Reads Newspapers • 18 - 24: 40% on a weekday • 25 - 34: 41% • 35 - 44: 50% • 45 - 54: 59% • 55 - 64: 64% • 65 + 71%

  5. Education level highly predictive of readership • 52% college grads • 24% no high school degree

  6. Declining Circulation • in last year • Los Angeles Times, (843,432)  3.79% • USA Today (2,296,335)  0.59% • Wall Street Journal (2,083,660)  1.1% • S F Chronicle (391,681)  16.4% • NY Times .46%

  7. Profit Margins Year Knight-Ridder Gannet 2000 20.8 29.2 2001 15.9 25 2002 21.3 30 2003 19.2 29.5 2004 19.4 29.1 • Earnings Before Interest and Taxes (EBIT) divided by sales

  8. Pulitzer Prize Winners Knight- Ridder Gannett NY Times Years 1975-1984 15 9 14 1985-1994 29 8 15 1995-2004 8 3 26

  9. Newspaper Profit Margins • National average is ~23% • Blue chip average ~12% • Newspaper Shareholders demand returns in the high 20s

  10. Profit Margins • Editorial quality versus pleasing stockholders • More than 2,000 newspaper jobs cut in 2007 • More than 3,000 cut so far in 2008

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