Shelly Palmer reported that local newspapers are losing their share of advertising revenue. Here is the story Shelly reported.

NEWSPAPERS have lost the lead in local online advertising for the first time. According to media research from Borrell Associates, newspapers have seen their share of local ads drop to 33.4% – down from 44.1% just three years ago. Internet companies now have 43.7% of the local ad market. Meanwhile, ad spending on social networks is expected to almost double next year, reaching $2.2 billion dollars. $1.2 billion was spent on the social nets in 2007, with MySpace and Facebook earning 70% of the revenue.

If you haven’t been to Shelly Palmer’s site you should check it out.

At www.media30.com.