Southwest Florida business owners are expected to spend $24.3 million on newspaper advertising in 2020. This will be 34% fewer dollars than were spent in 2019, according to a study by Borrell Associates, a company that analyzes local media expenditures across the country.
Of course, the pandemic is part of the reason advertising revenues have plummeted at Fort Myers area newspapers. But, the more significant factor is the sustained erosion of readership.
For example, between October 2017 and March 2019, the Monday-Saturday circulation of the News-Press has decreased by 29%. The Sunday edition suffered a 30% decrease.
Among all advertising media available to small business owners, newspaper's ability to reach adult consumers now lags significantly behind Fort Myers radio, cable, broadcast TV, and social media.