By: E&P Staff
Print advertising at The New York Times Co. continued its slump in August, with its News Media Group ad revenues down 4.6% from August 2006.
The group that includes the flagship New York Times managed to eke out an increase of 0.2% in ad revenue on strengthening national ads led by fashion, technology, packaged goods and hotel advertising. Retail advertising at the group decreased on softness from national chain stores. Classified ad revenue fell on weakness in the three categories that have troubled metro dailies for most of the year: real estate, help-wanted, and automotive.
Results were far worse at Times Co.’s other newspaper units.
At the New England Media Group, which publishes The Boston Globe, advertising revenues fell 9.0%. Times Co. said strengthened national was more than offset by weakness in retail and classifieds.
At Regional Media Group, publisher of newspapers mainly in the South, ad revenues plunged 11.9% on softness in home furnishing, department stores, and the once-reliable telecommunications category. Classified was down in the real estate, help-wanted, and automotive categories.
Internet ad revenues increased 28.2% in the month.
TimesSelect, the NYTimes.com online subscription product, now has about 787,400 subscribers, with about 226,800 online-only subscribers, and another 89,100 receiving it free as college students and educators, the company said.
Circulation revenues grew 3.6% in August, up mostly on an increase in July on the New York Times single-copy and home-delivery subscription prices.
Overall Times Co. revenues from continuing operations were up 0.6% in August, the company said.