Stanford University used data from the Library of Congress to catalog the number of papers that have existed in the United States since the 1690s. Surprisingly, we have about the same number of papers now as in the 1890s - over 13,000.
The difference, of course, is that our population is now a couple hundred million people larger.
What do the prosperity of these newspapers say about journalism as a whole? Does it reach a certain threshold and taper or, is there room in the future for growth beyond 13,000?