Spanish newspaper ad revenues down by 20%
Posted by Leah McBride Mensching on January 7, 2009 at 6:46 PM
Newspaper advertising revenues in Spain dropped 20 percent in 2008, due
to the country's troubled economy and an ad slowdown, the head of the
Madrid Journalists Association told Reuters on Wednesday.
The estimate Fernando Gonzalez Urbaneja told Reuters is in agreement with data from consultancy group Arce Media, which showed ad revenues for newspapers dropping in the fourth quarter even farther than the 16 percent slowdown in the first three quarters of 2008.
The estimate Fernando Gonzalez Urbaneja told Reuters is in agreement with data from consultancy group Arce Media, which showed ad revenues for newspapers dropping in the fourth quarter even farther than the 16 percent slowdown in the first three quarters of 2008.
"We estimate that there are between 25,000 and 30,000 journalists in
Spain and we reckon about 10 percent could lose their jobs," Gonzalez
told Reuters in an article posted by ForexPros.com. About 10,000 of Spain's journalists work for newspapers.
Revenue forecasts for 2009 are difficult to make, Gonzalez told Reuters.
Arce Media data shows that in 2007, newspaper and magazine ad revenue grew by about 6.2 percent, to about €2.715 billion.
Revenue forecasts for 2009 are difficult to make, Gonzalez told Reuters.
Arce Media data shows that in 2007, newspaper and magazine ad revenue grew by about 6.2 percent, to about €2.715 billion.
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