This is the first year in Pew’s State of the News Media project, going since 2004, that circulation revenue for U.S. newspapers has been higher than advertising revenue.
The total estimated advertising revenue for the newspaper industry in 2020 was $8.8 billion, based on Pew’s analysis of financial statements for publicly traded newspaper companies. This is down 29% from 2019.
Total estimated circulation revenue was $11.1 billion, compared with $11 billion in 2019.
The estimated total U.S. daily newspaper circulation (print and digital combined) in 2020 was 24.3 million for weekday and 25.8 million for Sunday, each down 6% from the previous year, though with some caveats, as detailed below and in a new Decoded post from Pew.
Digital circulation is more difficult to gauge. Using only the AAM data, digital circulation in 2020 is projected to have risen sharply, with weekday up 27% and Sunday up 26%. But three of the highest-circulation daily papers in the U.S., The New York Times, The Wall Street Journal and The Washington Post, have in recent years not fully reported their digital circulation to AAM. If these independently produced figures were included with the AAM data in both 2019 and 2020, weekday digital circulation would have risen even more sharply, by 38%.
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