A “flurry of ad spending” has generated year-end cheer at some newspapers and magazines, reports The Wall Street Journal.
Appropriately, the way we package this advertising news is key. For example, one newspaper executive interviewed describes print markets in Florida and California as “stubbornly challenging,” which makes them sound like Katherine Hepburn heroines.
Wells Fargo securities analyst John Janedis offers some upbeat news on ad sales at various publishers. He has changed The New York Times‘ classification from “underperform” to “market perform” and News Corp’s from “market perform” to “outperform.”
In his December 23 report, Mr. Janedis predicted newspaper advertising overall would show a high single-digit-percentage decline this year. That would be a sharp improvement from the 30 percent decline in ad revenues the industry hovered near for much of 2009.