Yesterday Poynter Online’s Rick Edmonds reported that the Associated Press has seen its newspaper revenues drop by a third in the past two years, from $220 million a year to around $140 million. This now represents just over 20 per cent of AP’s total revenue.
According to Poynter, AP’s CEO Tom Curley said he expected this to “drop ‘another $5 million to $7 million a year’ in 2011 and beyond”.
Though Curley and AP spokesman Paul Colford did not provide numbers for other business segments, Curley said growth areas include commercial photos, software businesses and AP’s international television news feeds, about to receive a $30 million upgrade to digital.
Online news has been a positive, he added, and broadcast is stable. Besides covering news abroad, the AP has also has a large international client base.