This is admittedly dated now (2011), but according to it, print subscribers to the New York Times were each worth $385 annually in advertising alone (more from

This is admittedly dated now (2011), but according to it, print subscribers to the New York Times were each worth $385 annually in advertising alone (more from subscription fees, of course) while monthly online readers were worth $3.85 annually in ad revenue, two orders of magnitude less: http://www.businessinsider.com/new-york-times-print-versus-online-2011-5 http://www.businessinsider.com/new-york-times-print-versus-o... That resembles what I remember reading for a decade+ about the print-to-digital newspaper transition: online ads command lower rates than print ads. Which is really mysterious, if online ads backed with persistent tracking and targeting are truly more effective.