ARLINGTON, Va. (AP) — The decline in revenue in the newspaper industry slowed last year.
The Newspaper Association of America reports total revenue in 2012 fell 2 percent to $38.6 billion from $39.5 billion in 2011, the slowest pace in six years. The association says publishers turned to new businesses and raised more money from online subscriptions.
Online subscriptions helped circulation revenue rise by 5 percent to $10.4 billion. It was the first gain since 2003.
The association's figures are projections based on a survey of 17 companies that represent about half of the industry's revenue. Publishers provided a detailed breakdown of their revenue on condition of anonymity.
For the first time, the NAA data incorporated new sources of revenue that virtually didn't exist for the industry a decade ago, including e-commerce, event hosting and providing advertising agency-like services to local companies.