Time Inc. owns some digital properties, including online advertising and identity aggregator Viant. But publishing still accounts for three-quarters of its revenue and its falling stock price reflects the decline of that industry. A study from industry analyst PQ Media reports that print advertising has declined by almost half over the past two decades. You knew that. But did you know that older internet channels have started to stagnate, with revenue shifting to alternatives including “mobile location marketing, digital billboard advertising, online videogame advertising, product placement in television and over-the-top video”? Over-all, PQ Media projects 3.2% growth in ad revenue in 2017 and 5.2% in election- and Olympics-fueled 2018.