Delaware Valley business owners are expected to spend $115 million on newspaper advertising in 2020. This will be 31% fewer dollars than were spent in 2019, according to a study by Borrell Associates, a company that analyzes local media expenditures across the country.
Of course, the pandemic is part of the reason advertising revenues have plummeted at Philadelphia area newspapers. But, the more significant factor is the sustained erosion of readership.
For example, between October 2017 and March 2019, the Monday-Saturday circulation of the Philadelphia Inquirer has decreased by 26%. The Sunday edition suffered a 29% decrease.
Among all advertising media available to small business owners, newspaper's ability to reach adult consumers now lags significantly behind Philadelphia radio, cable, broadcast TV, and social media.