News biz revenue has shrunk by a third since 2006
The news business had about $30 billion more revenue in 2006 than it does today, Pew finds. Advertising's percentage of that revenue has shrunk markedly, from 82 percent of news business revenue in 2006 -- before the recession -- to 69 percent today.
Money from audience members now accounts for about a quarter of all revenue, Pew says, as it did in its recent State of the News Media report. Rick Edmonds noted that newspapers still account for about 60 percent of the news business' revenue, despite their rough decade.
Retransmission fees have bolstered many TV stations' balance sheets, as has political advertising revenue. That last category may be even more robust in future years after Wednesday's Supreme Court ruling that struck down a limit on campaign contributions.