Print media is in trouble and has been for some time now. Media companies have struggled in their attempts to attract new sponsors and advertisers as readership of newspapers and magazines continues to decline, while online viewing remains at an all time high. A new study from Statista has revealed that Google (GOOG) is making more advertising revenue than the entire U.S. print media combined. The Internet giant has raked in slightly more than $20 billion in ad revenue in the first six months of 2012, while the U.S. print media industry has generated just less than $20 billion as a whole.
“Google, a company founded just 14 years ago, makes more money from advertising than an industry that has been around for more than a hundred years,” Statista notes.
The number crunching firm did note, however, that Google operates globally and the comparison is an unfair one that shouldn’t be judged scientifically.
Things aren’t all cheery for the Mountain View-based company either, since Google’s third quarter earnings came in shy of Wall Street’s expectations. The Internet giant posted earnings per share of $9.03 on revenues of $11.33 billion, compared to expectations of $10.65 per share and revenue of $11.86 billion. Additionally, the company saw a 15% year-over-year decline in advertising cost-per-click, or the average amount that advertisers pay Google for each time an ad is clicked on.