Over the past decade, news readership has grown by 10%. Two-thirds of those readers are now consumers of digital news. The latest numbers show that 19 million people read a national newspaper online every single day. And, in the past year alone, that number has grown by two million readers.
But – and it is a big but – over the same 10-year period ad revenue has gone in the other direction.
As the Cairncross Report highlighted, ad revenue on the print and circulation side of the business fell from £7bn to £3bn. And while digital is rising, the figures nowhere near match the growth in digital readership, where the industry is burgeoning once more.
But why isn’t ad revenue following these metrics? The gap just doesn’t make sense.