Of all the industries that have been disrupted by the internet, it can be argued that none has been more severely impacted than newspapers. From a historic high of 62.5 million in 1972, daily newspaper circulation in the U.S. has declined to 44.4 million in 2011, according to figures from the Newspaper Association of America. Print advertising revenue has seen an even more precipitous decline, from $48.7 billion in 2000 to $18.9 billion in 2012. Digital advertising on newspaper websites, at $3.4 billion in 2012, isn’t even beginning to make up the revenue shortfall.
