New York Times Co. sees its digital revenue rising 30 percent this year to $350 million, fueled by ad sales at the company’s newspaper Web sites and information provider About.com.
Chief Executive Janet Robinson, speaking during the annual Bear Stearns Media Conference in New York, told the gathering that digital revenue would continue to grow as a percentage of total revenue. In 2006, online proceeds accounted for 8 percent of overall revenue at the company, up from 4 percent in 2004.
Robinson also repeated that overall revenue should show signs of improvement at the New York-based company’s New England operations, which include the Boston Globe.
Chief Financial Officer James Follo told the gathering that New York Times expects to save $65 million to $75 million in 2007 through staff reductions, lower newsprint costs, and greater productivity. Robinson added that the estimate could prove conservative, as input from outside consultants could allow the company to find more opportunities for cost cuts, including further consolidation of facilities and more job cuts.