While classified advertising revenues at newspapers are in decline, they’re booming online.

Makes sense – local advertisers are moving their ads to where their prospects are. And such prospects are spending less time reading newspapers and more time online.

Case in point: leading classifieds site, Craigslist. Craigslist CEO Jim Buckmaster recently said that in June housing ads on Craigslist were up 85 percent over those in June last year, while rental ads were up 120 percent year-on-year, and real estate ads as a whole were up 70 percent year-on-year.

Craigslist receives around 50 million unique visitors and 12 billion page views per month. Not bad for a service that began in 2000 with one PC running Linux, handling 6 million page views per month.

Sources: Michael Learmonth, “Craigslist CEO: Our Real Estate Listings Are Booming”, Silicon Alley Insider, July 25, 2007

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