Media Outlets Losing Money From a Lack of Auto Ads

august 11, 2008  08:30 am
With auto sales at their lowest point in 15 years, car manufacturers and local dealers are cutting way back on advertising, according to the New York Times. "You're talking about cars sitting on lots for 90 days," says Mort Goldstrom, vice president for advertising at the Newspaper Association of America. "The dealers are saying, 'I have cars that won't move. And I can't advertise.' It's because of cash flow." A recent report from TNS Media Intelligence shows that the auto industry's first quarter spend was down $414 million from last year.