The group indicated that June volumes are likely to be down in the mid-20% range on a per issue basis and in the high-20% range in total. Previous forecasts had expected a decline of somewhere between 10% and 20%.
Weakness in technology advertising combined with weakness in communications, automotive, travel and professional services advertising were partially offset by an increase in insurance and healthcare advertising.
However, it is financial advertising that has been particularly poor, running well below expectations. Financial ad linage for the Journal declined 44.8% in May compared to a decrease of 36.1% in May of last year. This is due to broader declines in both wholesale and retail advertising, said Dow Jones.
