Musings —01.08.2014 01:22 PM—
. In the United States, newspaper advertising revenue – the main source of economic support by far – was $63.5 billion in 2000. By 2012 it had fallen to $19 billion. (During the same period, advertising revenue at Google went from zero to $46.5 billion.) Employment in the American newspaper industry fell by 44 per cent between 2001 and 2011. In the European Union, newspaper revenue is falling by more than 10 per cent a year. In the UK, newspaper circulation has dropped by more than 25 per cent during the twenty-first century. It would be hard to think of another industry that is going through such a sudden collapse.
Man, is that ever hard to read.