According to the Pew Research Center’s Project for Excellence in Journalism, spending for online advertising overtook newspaper spending for the very first time in 2010.
Spending on newspapers fell 6.6%, while online advertising saw a 13.9% increase, pushing it over the top. This trend is expected to continue in 2011 as advertisers seek to lower their cost per impression by shifting their spending online, where the potential reach makes every dollar go further: People are now flocking online to get their news fix, with 46% saying they go online at least 3 times a week for news content.
The explosion in mobile technology and devices has also contributed to marketers moving their spending online, as nearly half of all Americans now receive some form of local news on a mobile device – an additional avenue for advertising campaigns.
The Pew Research Center’s report also indicates that with the exception of online news services, all media outlets are rapidly losing viewers and readers; Prime-time viewers tumbled by 37% at CNN and 11% at Fox news. Overall, Americans watched 13.7% less television in 2010 than the year before.
What does this mean to you? Are you shifting more of your advertising dollars online or cutting print and television advertising altogether? Let us know in the comments!
Read the full study results here.