The newspaper industry has been losing the attention of young readers but the trend hasn't translated to one segment of the industry:college papers. Big advertisers like Wal-Mart Stores Inc. (WMT), Ford Motor Co. (F) and Microsoft Corp. (MSFT) are going to campus to reach these young readers, according to this WallStreetJournal.com article.
It's an audience that reads regularly, despite the conventional wisdom. According to a 2005 survey by market research firm Student Monitor, 71% of college students read at least one of the last five issues of the college paper. By contrast, 46% of students (down from 49% last year) read the print version of at least one national newspaper in a typical week, according to Student Monitor.
College teens and twentysomethings also have money to spend. Seventeen million people are now enrolled in U.S. colleges, the largest number in history, spending $182 billion a year -- $46 billion of which is discretionary spending, up 12% from last year, according to market research firm Harris Interactive. "There is a lot of money here," says Kathy Lawrence, director of Texas Student Media for 23 years. National advertisers "didn't recognize for a long time what a valuable asset this is for them."
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