Back in 1964, 75% of U.S. adults read the Sunday newspaper. Forty-three years later (2007) only 55% of adults read the Sunday newspaper. According to The New York Times, daily newspaper subscriptions dropped 31% from 63.3 million to 43.7 million during 1984 to 2006.

More people are going online for news. And this trend is causing industry leaders to reconsider how they do business. Arthur Sulzberger, owner of The New York Times, has even gone as far to say,

I really don’t know whether we’ll be printing the Times in five years, and you know what? I don’t care either. The Internet is a wonderful place to be, and we’re leading there. (source)

The Newspaper Association of America reports Internet ad revenue grew 18.8% for newspapers in 2007. But despite this online success, total advertising revenue (including online revenue) still decreased 7.9% in 2007.

The newspaper recession is a good reminder that when culture and economies change, industries may have to change their methods, as well.

[via Editor & Publisher & TechCrunch]