January 08 saw an almost 15 percent reduction in revenue for the newspaper chain, compared to the previous year. Once again, slight online revenue growth — less than 3 percent to a total just over $14 million — had no hope of off-setting a 17 percent crash in print ads, from $158m. to $130m. for the month.
More specifically, operations in the Southeast, which largely means the Carolinas, saw a 13 percent drop in print ads to $37 million. Online ads for the region crept up by 8 percent to a scant $5 million. In sum, no longer can company officials remotely claim that Florida and California are to blame — there is weakness everywhere.
And there is no reason to expect improvement. In fact, I noted the other day that the local McClatchy offering had a tad over a half-page of display ads across two sections and — I believe — 16 pages.
