Final answer:
The decline in revenue in the newspaper industry is due to a decrease in readership, an increase in online news consumption, and a decline in advertising revenue.
Step-by-step explanation:
The decline in revenue in the newspaper industry can be attributed to a combination of factors:
- A decrease in the number of people reading American newspapers: Over the years, there has been a decline in print news reading, with a shift towards other sources of news like television and radio.
- An increase in the number of people reading online news: With the advent of digital media, more and more people are getting their news online, resulting in a decrease in newspaper readership.
- A decrease in advertising revenue: Classified ads, which used to be a significant source of revenue for newspapers, have shifted to online platforms like Craigslist and job-search sites, leading to a decline in advertising revenue for newspapers.
These factors have led to newspapers slashing staff, reducing reporting, and shrinking in size in an effort to stay financially stable.