WSJ: minus 10%???

Wow, the Wall Street Journal says that its ad revenues were off 10% in February versus the same period a year ago. (Here’s the
press release.) Either we’re in a major recession or the paper business is returning to the pulp from whence it came, beaten to death by the web. Given the 50% rise in “pure online” revs, probably the latter. (Although the jump could also reflect an online-ad-friendly redesign last March and prior under-attention to online ad sales?)

Advertising revenue at The Wall Street Journal decreased 10.0% in February on a 6.6% decrease in advertising volume, due to declines in the technology, financial, general and classified advertising categories. Technology advertising volume decreased 12.2% as decreases in communications and personal computers advertising were partially offset by increases in software and office products advertising. Financial advertising volume decreased 9.8% primarily due to a decrease in retail advertising partially offset by an increase in wholesale advertising. General advertising volume decreased 5.4% as decreases in auto, pharmaceutical, corporate, aviation and other general business advertising were partially offset by increases in travel, luxury goods and other consumer advertising. Classified advertising volume decreased 3.8% due to a decrease in real estate advertising partially offset by an increase in other classified advertising.

At Barron’s, total advertising revenue increased 0.5% in February on a 0.6% decrease in advertising pages due to an increase in financial advertising partially offset by decreases in general and technology advertising.

International advertising revenue increased 16.6% in February due to increases in general, financial and classified advertising partially offset by a decrease in technology advertising at The Wall Street Journal Asia and The Wall Street Journal Europe.

Local Media Group advertising revenue, on a same property basis, decreased 2.4% in February on an 8.4% decline in volume. Decreases in non-daily (down 16.8%), classified (down 4.5%) and display (down 0.9%) advertising revenue were partially offset by increases in pure* online (up 49.7%) and preprint (up 1.6%) advertising revenue.