The U.S. newspaper industry has lost more than $40 billion in ad revenue in the past decade — over half of that in the last four years alone — and Google’s ad revenues are now more than twice what the industry pulls in.
Via Robin Good
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That one graph summarizes very nicely the recent history of the media industry. And if you add Facebook's digital ad sales to the graph (a few billions and probably already bigger than the whole newspaper digital sales or soon to be), you see how newspapers are heavily challenged for readers attention.