According to a recent note by UBS, print ad growth came in at negative 8.9%, below estimates of a 7.7% decline, to the benefit of other media segments which will receive funds flowing out of print media. Revenues on classified sections deteriorated substantially, with growth down to negative 10.9% versus estimates of a decline of 5.1%. National print advertising was marginally better than expected, falling 8.8% compared with estimates of a 10% drop.
UBS now estimates full year 2011 print advertising growth to fall 6.6%, while in 2012 they expect a decline of 5%, in both cases worse than their previous expectations.
With New York Times’ total company advertising declining 4% in the second quarter and no positive revisions on digital ad revenue growth, UBS now expects The Gray Lady’s third quarter advertising revenues to decline 5.5%.
Read more at Forbes
