At the Newspaper Association of America’s annual meeting earlier this week, news from McClatchy (#2 behind Gannett in the US) is that 15% of advertising revenue comes from online or digital revenue.

Its easy to agree that digital revenue is at a higher profit margin, but the true question is the revenue mix between national versus local buys.  Newspapers cannot survive on national CPM’s and need to be more effective in capturing local digital advertiers.

Socrates might be embarased, but this now begs the question – how long before local advertisier demand the same CPM and dirt cheap national CPM?