Another nail in the coffin lid of newspaper ad revenues was announced today with the news that online real estate advertising will total an estimated $1.719 billion this year, about 15% of the projected $11.698 billion total real estate spending, according to a report by Borrell Associates. They estimate that by 2010, the proportion of real estate ad dollars spent online will more than double to 32 percent. The report predicts that most of the growth in online spending will come at expense of newspapers. This year, real estate ads in newspapers are predicted to total $4.327 billion--down almost 8 percent from last year's total. And if you think that’s bad, Borrell predicts that by 2010, newspapers will capture just 30 percent of real estate ad dollars, or $2.9 billion--a lower figure than the Web. Maybe they should take a leaf out of my local paper; it seems to be nothing but obituaries. From what I hear, it seems to be some kind of giant scam between the funeral homes that write them and the papers that print them… And people keep dying, right?
He might be your biggest advertiser in a few years!
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