Newspaper & Mailroom
The New York Times Company Reports July Revenues
Wednesday 27. August 2008 - The New York Times Company announced today that in July total Company revenues from continuing operations decreased 10.1% compared with the same month a year ago. Advertising revenues decreased 16.2% and circulation revenues decreased 0.5%.
All comparisons are for July 2008 to July 2007 unless otherwise noted:
News Media Group
Advertising revenues for the News Media Group decreased 17.9% mainly because of weakness in print advertising.
The New York Times Media Group – Advertising revenues for The New York Times Media Group decreased 15.3%. National advertising revenues decreased as weakness in the studio entertainment, transportation, hotel and national automotive categories offset growth in media, financial services, advocacy and healthcare advertising. Retail advertising revenues decreased mainly due to softness in the department store, home furnishing store and national retail categories. Classified advertising revenues decreased because of weakness in real estate, help-wanted and automotive advertising.
New England Media Group – Advertising revenues for the New England Media Group decreased 24.5%. National advertising revenues were lower mainly because of decreases in travel, studio entertainment, financial services, banking and national automotive advertising. Retail advertising revenues decreased primarily due to weakness in the home improvement, furniture/home furnishing, jewelry/watches and discount store categories. Classified advertising revenues decreased due to softness in real estate, help-wanted and automotive advertising.
Regional Media Group – Advertising revenues for the Regional Media Group decreased 18.1%. Retail advertising revenues were down mainly because of decreases in the home furnishings, telecommunications, department store and home improvement categories. Classified advertising revenues decreased due to weakness in real estate, help-wanted and automotive advertising.
Internet advertising revenues included in the News Media Group increased 0.9% as more moderate growth in display advertising was partially offset by continued weakness in online recruitment advertising. To date in August, online advertising for the News Media Group is trending up in the low double digits as display advertising at NYTimes.com has improved.
Circulation revenues for the News Media Group decreased 0.5%. Revenues increased at The New York Times and Regional Media Groups, and decreased at the New England Media Group. In July 2008, The New York Times announced that home-delivery prices would increase an average of 4.5% upon the subscriber’s renewal date and for new subscribers. Effective August 18, the daily newsstand price of The Times increased from $1.25 to $1.50.