Only the mid-market titles can boast of both circulation growth and fatter ad revenues, says the report.
It's a period of mixed fortunes for the popular newspapers with advertising revenue up 2.7% but with circulation down 4.9%.
The qualities in general have suffered a double whammy - a drop in circulation of 1% and a 3.4% slide in money from advertising.
By contrast, though, the mid-market titles have enjoyed a 2.1% boost in circulation and their ad revenues have soared by 4.3%.
The report says colour revenue has risen by 7%.
But it added: "Perhaps of most concern is newspapers' increasing reliance on retail advertising, with both finance and motors in decline."
By Tony Lithgow