NAICS 513110 Quarterly Industry Report
Newspaper Publishers
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 513110Sector: Information (51)Updated: Q1 2026
About This Report
Fair Market Value compiles this NAICS 513110 industry report using data from the U.S. Census Bureau[6], the Bureau of Labor Statistics[7], and the Small Business Administration[8]. Our research team analyzes advertising revenue trends, digital subscription conversion rates, and circulation metrics to build valuation benchmarks specific to newspaper operations. This report on NAICS 513110 is updated quarterly to track the ongoing transition from print to digital revenue models.
Industry Definition & Overview
Newspaper Publishers (NAICS 513110) encompasses establishments that carry out the operations necessary for producing and distributing newspapers, including gathering news, writing columns and editorials, selling and preparing advertisements, and managing print and digital distribution. These publishers may produce daily, weekly, or other periodicity newspapers in print form, electronic form, or exclusively online.
The industry has undergone dramatic structural contraction over the past two decades. Print advertising revenue, once the dominant income source, declined sharply as classified and display spending shifted to digital platforms. Total U.S. newspaper advertising revenue fell from a peak near $49 billion in 2005 to under $10 billion by the early 2020s per estimates compiled by the Pew Research Center[4]. Employment in newspaper publishing dropped from roughly 412,000 in 2001 to under 150,000 by 2020 according to the Bureau of Labor Statistics[5].
Digital subscription models have partially offset print losses at major metro dailies, but community and regional papers face steeper challenges. Over 2,500 newspapers have closed since 2005, creating what researchers call "news deserts" in communities that lost their only local publication. Surviving publishers increasingly bundle print subscriptions with digital access, host live events, and produce sponsored content to diversify revenue beyond traditional advertising. Roughly 5,100 newspaper establishments remained active in recent Census counts, with the largest concentrations in major metro areas and state capitals.
What's Included in This Industry
- Daily and weekly newspaper publishing in print and digital formats
- News gathering, reporting, and editorial content creation
- Display and classified advertising sales and placement
- Digital subscription and paywall management
- Print production, pressroom operations, and distribution logistics
- Website and mobile app publishing for news content
- Sponsored content and native advertising production
- Obituary, legal notice, and public record publishing
- Community event calendars and local business directories
- Newspaper insert and preprint advertising distribution
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Information | 51 |
| Subsector | Publishing Industries | 513 |
| Industry Group | Newspaper, Periodical, Book, and Directory Publishers | 5131 |
| NAICS Industry | Newspaper Publishers | 51311 |
| National Industry | Newspaper Publishers | 513110 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 513120 | Periodical Publishers | Periodical publishers produce magazines and journals on scheduled cycles that share advertising sales models and print distribution networks with newspapers |
| 516110 | Radio Broadcasting Stations | Internet publishing and broadcasting sites compete directly with newspaper websites for digital advertising revenue and reader attention |
| 513199 | All Other Publishers | All other publishers produce directories, atlases, and specialty publications using editorial and sales processes similar to newspaper operations |
| 541810 | Advertising Agencies | Advertising agencies purchase display and digital ad placements in newspapers on behalf of their business and consumer brand clients |
| 323111 | Commercial Printing (except Screen and Books) | Commercial printing firms provide contract presswork for newspapers that have outsourced their printing operations to reduce fixed costs |
| 519290 | Web Search Portals and All Other Information Services | News syndicates and wire services supply editorial content that newspapers license for regional and national coverage sections |
SBA Lending Summary
160
Total SBA Loans
$31.0M
Total Loan Volume
$194K
Average Loan Size
11 yrs
Average Loan Term
10.47%
Average Interest Rate
968
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[3]
Key Insight: The SBA size standard[9] for NAICS 513110 is 1,000 employees, using a headcount threshold that classifies publishers with fewer than 1,000 workers as small businesses. Newspaper publishers can access the SBA 7(a) loan program[10] for equipment upgrades, digital platform investments, and working capital, while SBA 504 loans[11] support printing facility and office real estate acquisition. Community papers typically employ fewer than 50 people, well within the threshold.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Fulton Bank, National Association | 24 | $9.8M | $408K |
| 2 | First Federal Bank | 8 | $4.3M | $541K |
| 3 | Ives Bank | 8 | $4.0M | $500K |
| 4 | Bank of Hope | 8 | $2.4M | $300K |
| 5 | Readycap Lending, LLC | 24 | $2.4M | $98K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses fall under NAICS 513110?
NAICS 513110 covers establishments engaged in publishing newspapers in print and digital formats. This includes daily metro dailies, weekly community papers, digital-only news publications, business journals, and ethnic or foreign-language newspapers.
How is NAICS 513110 different from 516110?
NAICS 513110 covers publishers whose primary product is a newspaper (print or digital), while 516110 covers internet publishing and broadcasting establishments that may produce news content but are not structured as traditional newspaper operations. A daily paper with a website falls under 513110; a digital-only news aggregator falls under 516110, per Census Bureau classifications[12].
What is the SBA size standard for newspaper publishers?
The SBA sets the size standard for NAICS 513110 at 1,000 employees. Publishers with fewer workers qualify as small businesses for federal lending and contracting, per the SBA size standards table[9].
What NAICS codes are related to newspaper publishing?
Related codes include 513120 (periodical publishers), 516110 (internet publishing), 513199 (other publishers), 541810 (advertising agencies), and 323111 (commercial printing). Each intersects with newspaper operations through content, advertising, or production relationships.
What industries are closely related to newspaper publishers?
Closely related industries include magazine publishing (513120), online news (516110), advertising agencies (541810) that buy placements, market research (541910) for audience data, and commercial printing (323111) for outsourced press operations.
What activities are included in newspaper publishing?
Activities include news gathering and reporting, editorial writing, advertising sales, print production, digital publishing, subscription management, distribution logistics, and sponsored content creation. Employment data from the Bureau of Labor Statistics[5] tracks the workforce staffing these functions.
Can newspaper publishers get SBA loans?
Where are newspaper publishers concentrated in the United States?
Major metro areas and state capitals maintain the highest concentrations of newspaper publishing establishments. New York, Los Angeles, Chicago, and Washington, D.C. host the largest newsrooms, while every U.S. county historically had at least one local paper, per Census Bureau County Business Patterns[13]. Rural closures have reduced this footprint considerably since 2005.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [4]Pew Research Center pewresearch.org
- [5]Bureau of Labor Statistics bls.gov
- [6]U.S. Census Bureau census.gov
- [7]Bureau of Labor Statistics bls.gov
- [8]Small Business Administration sba.gov
- [9]SBA size standard sba.gov
- [10]SBA 7(a) loan program sba.gov
- [11]SBA 504 loans sba.gov
- [12]Census Bureau classifications census.gov
- [13]Census Bureau County Business Patterns census.gov
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