That is correct: German-based statistics portal Statista reports that Google garnered ~$20.8 billion in total ad revenues over the period, while all U.S. newspapers and magazines took in only about $19.2 billion.
Never mind that the comparison isn’t completely apples-to-apples … in that print revenues are for the United States only, while Google generates ad revenues worldwide. Still, it’s a dramatic milestone, and it says a lot about the fortunes (and future) of print versus online advertising.
Statista has helpfully published trend charts that show how quickly the ad picture has changed (see above). Only a few years ago, print advertising dominated the scene, but the trajectories of it and Google have been on opposite paths ever since.
It was inevitable that the lines would eventually cross, but how many could have foreseen it happening as early as 2012?
As if on cue, Advance Publications, a company that owns a number of venerable newspapers in New Orleans, Cleveland and elsewhere, has just announced that it is likely to cut the publication frequency of the Plain Dealer newspaper from its current seven days a week.
If Advance follows through on its intentions, it will join the New Orleans Times Picayune as a daily newspaper that’s no longer a daily.
The publisher’s letter to Plain Dealer readers described the newspaper’s future in lofty terms, noting that changes were coming as the paper seeks to “embrace dynamic shifts in the way information is consumed.” And other such language.
It also noted that the pending changes are “not about cost-cutting.” But who believes that?
And in fact, the publisher’s letter states also that “if we maintain the status quo, we risk doing what everyone – our employees, advertisers and the community – wants to avoid: disappearing.”
If people don’t see a correlation between the Statista data and what the Plain Dealer has in store for its readers … they’re living on another planet.