Business News
The New York Times Company Reports April Revenues
Monday 19. May 2008 - The New York Times Company announced today that in April total Company revenues from continuing operations decreased 2.2% compared with the same month a year ago. Advertising revenues decreased 5.1% and circulation revenues increased 3.3%.
The Company’s results in April benefited from a shift in the timing of Easter. Easter Sunday, which fell in March this year, but was in April last year, is traditionally a time of reduced advertising at both The New York Times and The Boston Globe.
All comparisons are for April 2008 to April 2007 unless otherwise noted:
News Media Group: Advertising revenues for the News Media Group decreased 6.0% mainly because of weaker classified advertising.
The New York Times Media Group – Advertising revenues for The New York Times Media Group decreased 0.7%. National advertising revenues increased as strength in the media, advocacy, live entertainment and corporate categories offset weakness in financial services and telecommunications advertising. Retail advertising revenues decreased mainly due to softness in mass market, department store and cosmetic manufacturers advertising. Classified advertising revenues decreased because of weakness in help-wanted, real estate and automotive advertising. Real estate advertising benefited from the timing of KEY Magazine, which was published in April this year but appeared in March last year.
New England Media Group – Advertising revenues for the New England Media Group decreased 12.0%. National advertising revenues were lower mainly because of decreases in the telecommunications, travel and packaged goods/pharmaceutical categories. Retail advertising revenues decreased primarily due to weakness in apparel/footwear, department store, jewelry/watches and computer/office supply advertising. Classified advertising revenues decreased mainly due to continued softness in help-wanted and real estate advertising.
Regional Media Group – Advertising revenues for the Regional Media Group decreased 16.4%. Retail advertising revenues were down mainly because of decreases in the home furnishings, telecommunications, banking/financial services and specialty store categories. Classified advertising revenues decreased due to continued weakness in help-wanted, real estate and automotive advertising.
Internet advertising revenues included in the News Media Group rose 25.6% due to growth in both display and classified advertising.
Circulation revenues for the News Media Group increased 3.3%. Revenues increased at The New York Times and the Regional Media Groups, and decreased at the New England Media Group.
About Group: Advertising revenues at the About Group (which includes the Web sites of About.com, ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com) rose 14.2% due to strong growth in cost-per-click advertising. In addition, advertising revenues reflect the acquisition of ConsumerSearch.com in May 2007. Excluding this acquisition, advertising revenues increased approximately 10%.
In addition, The New York Times Company had the 11th largest presence on the Web, with 49.3 million unique visitors in the United States in April 2008 according to Nielsen Online, up approximately 15% from 42.9 million unique visitors in April 2007. Also according to Nielsen Online, NYTimes.com had 17.9 million unique visitors in April versus 13.7 million in April 2007, up about 30%, and was the No. 1 newspaper Web site in the United States, a position it has long held.
The New York Times Company (NYSE: NYT), a leading media company with 2007 revenues of $3.2 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other daily newspapers, WQXR-FM and more than 50 Web sites, including NYTimes.com, Boston.com and About.com. The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.